RBI allows UPI access for prepaid payment instruments

RBI approves PPI holders to make UPI payments via third-party apps
RBI allows PPI users to use UPI payments via third-party apps, enhancing interoperability and convenience for digital transactions.
RBI Greenlights UPI Payments via Prepaid Wallets
The Reserve Bank of India has authorized the use of prepaid payment instruments (PPIs) for UPI transactions on third-party apps. This move provides PPI users like gift card or digital wallet holders more flexibility by allowing transactions to be authenticated with existing PPI credentials.
RBI allows PPI holders to have UPI transactions through mobile app of third-party UPI apps
RBI enables UPI payments for full-KYC PPIs through third-party UPI apps, amending provisions for seamless transactions.
RBI Allows UPI Payments via Prepaid Instruments
The Reserve Bank of India (RBI) has permitted UPI transactions using prepaid payment instruments (PPIs) through third-party apps, enabling more flexibility for PPI holders.
RBI allows UPI access through prepaid payment instruments for full-KYC third-party applications
Earlier, UPI payments from or to a bank account could be carried out using the UPI application of that bank or of any third-party application provider. However, UPI payments from or to a PPI could only be carried out using the mobile application provided by the PPI issuer.
Prepaid users can now make UPI payment via third-party apps
The decision is aimed at providing more flexibility to holders of PPIs such as gift cards, metro rail cards and digital wallets, among others.
RBI’s new rule allows PPIs to use UPI through third-party apps
The RBI has allowed Prepaid Payment Instruments (PPIs) to access UPI through third-party apps, marking a significant step towards interoperability and enhancing convenience for wallet users across India.
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