With the RBI’s latest move, users of prepaid payment instruments (PPIs) will now be allowed to use third party apps as well instead of only the UPI functionality given by the PPI provider.

The Reserve Bank of India (RBI) has announced a policy change. Effective December 27, the new regulation enables holders of Prepaid Payment Instruments (PPIs) to access Unified Payments Interface (UPI) services through third-party applications.

The Reserve Bank of India (RBI) on Friday allowed third-party UPI access for prepaid payment instruments (PPI). Now PPI holders will be able to make and receive payments through third party UPI apps.

The Reserve Bank of India (RBI) on Friday allowed interoperability of prepaid payment instruments (PPIs) for Unified Payments Interface (UPI) transactions through third party application providers (TPAPs).

A prepaid payment instrument (PPI) is a financial tool that allows users to store funds on a card or digital wallet for future transactions. Now, the interface of any third-party app can be used to transfer and receive money in the wallet.

RBI permits users of full-KYC prepaid payment instruments (PPIs) to make and receive UPI payments via third-party mobile apps. The decision expands digital payment options, improves flexibility for PPI holders,

The RBI has allowed Prepaid Payment Instruments (PPIs) to access UPI through third-party apps, marking a significant step towards interoperability and enhancing convenience for wallet users across India.