RBI allows PPI holders to make UPI payment using third-party apps

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RBI allows PPI holders to make UPI payment using third-party apps - Business Standard

Quick Summary:

It has been decided to enable Unified Payments Interface (UPI) payments from/to full-KYC prepaid payment instruments (PPIs) through third-party UPI applications, the central bank said in circular.

The Reserve Bank on Friday allowed prepaid payment instruments holders to make and receive UPI payments through third-party mobile applications.

"A PPI issuer shall enable holders of only its full-KYC PPIs to make UPI payments by linking its customer PPIs to its UPI handle.