Reserve Bank of India on December 27 said it has allowed Unified Payments Interface (UPI) access for prepaid instruments through third-party apps.
“It has been decided to enable UPI payments from/to full-KYC PPIs through third-party UPI applications. This will enable PPI holders to make/receive UPI payments through the mobile application of third-party UPI applications,” said RBI in a circular.
So far, UPI payments from/to a bank account can be carried out using the UPI application of that bank or of any third-party application provider. However, UPI payments from/to a PPI can only be carried out using the mobile application provided by the PPI issuer.
