Non-Bank UPI alternative?
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Earlier, it was normal to have a separate bank account just for UPI.
Now with some changes like PPI for UPI, is there a better alternative for those who want to use a small account/wallet that's not a bank account just for UPI usage? For those who don't want to link their bank to UPI but just want a limited use UPI wallet kinda thing
What's the best one out there?
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Does it require full kyc as it never allowed me to pay though i have amt in wallet
slice UPI -> PPI wallet with UPI
is the best i can think of
just start using it and you will soon know why:)
bewarned: Its crazy fast xD with finger print and less processing time xD
Here is the list of all PPI wallet companies with a valid licence. License for some will expire soon, though.
https://www.rbi.org.in/Scripts/PublicationsView...
Personally, I use Slice, Amazon Pay wallet, PhonePe (for PhonePe merchants) and mobikwik (rarely). Slice will be merged with a SFB soon. So, it is going to stay for long like Amazon and PhonePe. I am unsure how mobikwik will survive in the long run, though. When survival is stake that is when the user data gets sold by some companies.
I have been using Amazon Pay Wallet UPI for a few months now and I have had zero complaints. It does require a full KYC (with video verification) but that went smoothly for me and took just a few minutes. It has also replaced UPI Lite for my small UPI usages.
The other alternative I am aware of is Mobikwik Pocket UPI but I'll trust Amazon any day over Mobikwik.
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Use Amazon pay wallet load it and use it as upi