TechFini Receives NPCI Approval to Operate as UPI Infrastructure Provider

Mumbai-based fintech startup TechFini has received final approval from the National Payments Corporation of India (NPCI) to operate as a Unified Payments Interface (UPI)-based payment infrastructure provider. This approval allows TechFini to work with banks and fintech companies.

With this approval, TechFini can now function as a UPI Issuer 2.0, UPI Acquirer 2.0, and issuer and acquirer of credit lines on UPI. They can also enable RuPay credit cards, among other services.

The company has also been certified for UPI Unified Dispute and Issue Resolution (UDIR). This certification makes TechFini one of the few platforms capable of handling complex dispute resolutions.

“We are happy to receive certifications from NPCI to facilitate UPI-based payment technologies. This approval acknowledges our efforts to enhance the payments ecosystem and help our clients, as well as their customers, experience seamless UPI payments,” said Atish Shelar, Chief Operating Officer of TechFini.

TechFini, founded in 2023, provides payment infrastructure solutions that help banks, fintechs, and other financial services companies simplify and integrate their payment systems. The company offers various products, including acquiring switch, issuing switch, UPI switch, expense management, card management, and payment gateway software.

In June, UPI-based transactions reached over Rs 20 lakh crore in value, showing a 49% year-on-year increase, according to NPCI data. The transaction volume for the same month stood at 13,885.1 million.

This approval marks a significant milestone for TechFini, positioning it as a key player in the rapidly growing UPI ecosystem in India.