| Notification Detail :
RBI/2024-2025/97
CO.DPSS.POLC.No.S972/02-14-006/2024-25
December 27, 2024
All Prepaid Payment Instrument Issuers (Banks and Non-banks),
National Payments Corporation of India (NPCI) and System Participants
Madam / Dear Sir,
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).
Yours faithfully,
(Gunveer Singh)
Chief General Manager-in-Charge
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