RBI allows PPI holders to make UPI payment using third-party apps
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All Prepaid Payment Instrument Issuers (Banks and Non-banks), National Payments Corporation of India (NPCI) and System Participants
Unified Payments Interface (UPI) access for Prepaid Payment Instruments (PPIs) through third-party applications -
Currently, 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.
2. As announced in the Statement on Development and Regulatory Policies dated April 05, 2024, 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. The relevant provisions have been amended in Master Directions CO.DPSS.POLC.No.S-479/02.14.006/2021-22 dated August 27, 2021 on Prepaid Payment Instruments (MD-PPIs) (see Annex).
3. This circular is issued under Section 18 read with Section 10(2) of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
Revised provisions of the MD-PPIs:
Requirements for achieving interoperability through UPI -
| Previous Instructions | Revised Instructions |
|---|---|
| 11.6.3. PPI holders shall be on-boarded for UPI by their own PPI issuer only. PPI issuer shall only link its customer wallets to the handle issued to it. PPI issuer as PSP shall not on-board customers of any bank or any other PPI issuer. | 11.6.3. 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. UPI transactions from PPI on the issuer’s application shall be authenticated using the customer’s existing PPI credentials. Such a transaction will, thus, be pre-approved before it reaches the UPI system. A PPI issuer, in its capacity as a PSP, shall not on-board customers of any bank or any other PPI issuer. |
| 11.6.4. Authentication shall be completed by the PPI holder as per her / his existing wallet credentials. In other words, a transaction will be pre-approved before it reaches the UPI. | 11.6.4. A PPI issuer may also facilitate discovery of its full-KYC PPIs on third-party UPI mobile applications, who, in turn shall enable such PPIs to be linked to their PSP handle/s. Such UPI transactions, from PPIs using third party UPI applications, shall be authenticated using the UPI credentials. |
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Layman terms?
now you can use "ppi wallet upi" like omnicard upi, in gpay or phonepe or ..similar apps:)
PPI will be buzz word now !!
@abhishek012 bro please explain in simplified langauge 😁😃
great news, VU+ for awareness of this nice info
now i wonder how we can loot payzapp wallet upi using gpay or phonepe xDDD
wondering when this "ppi wallet upi" can be see in gpay, phone pe ... etc
any tentative time line anyone know?
So Amazon Pay balance can be used by Paytm in theory to pay for a flight ticket on Paytm ?
But how is this beneficial? while we can use SB or RuPay CC why anyone would load wallet to make payment thru UPI.
no real advantage to end user, other than better experience
Great! So, finally we can expect seamless payments through the PPI wallet no more dependency on laggy PPI apps.
great news, VU+ for awareness of this nice info
now i wonder how we can loot payzapp wallet upi using gpay or phonepe xDDD
wondering when this "ppi wallet upi" can be see in gpay, phone pe ... etc
any tentative time line anyone know?