PayNearby secures TPAP license from NPCI

New Delhi, Dec 23 (PTI) Fintech firm PayNearby on Tuesday said it has received the Third-Party Application Provider (TPAP) approval from the National Payments Corporation of India (NPCI).

The company has introduced PayNearby Saathi – a platform which will ensure onboarding of UPI users in an assisted mode through PayNearby's retail network, PayNearby said in a statement.

UPI is one of the most preferred payment modes in India, with over 504 million active users as well as the potential to reach a significantly wider population.

"The TPAP recognition will further strengthen our commitment to connecting Bharat to India. Our next step is to strengthen our network extensively and ensure that every citizen becomes a part of India's digital financial revolution," it said.

Over time, the PayNearby Saathi app will further add other essential financial services, including micro-insurance, lending, credit, etc., ensuring long-term financial empowerment for audiences in Bharat, it added. PTI DP HVA