Fintech startup TechFini reportedly received the final approval from the National Payments Corporation of India (NPCI) to operate as an UPI issuer 2.0, UPI acquirer 2.0, issuer of credit line on UPI, acquirer of credit line on UPI, and enabler of rupay credit card and recurring mandate on UPI.
The Fintech company has also been certified for UPI unified dispute and issue resolution (UDIR). The enablement of UDIR makes the startup one of the few platforms to host this feature and will serve as a game-changer for tackling the complexities involved in dispute resolution.
UPI-based transactions reached Rs 20,070.81 billion in June, surging 49 per cent on a year-on-year (YoY) basis, while the transaction volume in June stood at Rs 13,885.14 million, according to data by the National Payments Corporation of India (NPCI) released on Monday.
“We are happy to receive certifications from NPCI to facilitate UPI-based payment technologies. This approval acknowledges our efforts to enhance the payments ecosystem and help our clients, as well as their customers, experience seamless UPI payments. We will continue to extend unwavering support to NPCI in driving the Digital India mission,” said Atish Shelar, Chief Operating Officer, Tech Fini.
TechFini is a payment infrastructure solution provider enabling Banks, Fintech, and Financial services companies of all-sizes to integrate and simplify payment systems. With the grant of these certifications, TechFini will collaborate with financial institutions to accelerate their payments capabilities, product journey, and digital growth.
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