RBI’s Game-Changer: Prepaid Wallets Can Now Make UPI Payments via Third-Party Apps!

Mumbai, India: In a significant move, the Reserve Bank of India (RBI) announced on Friday that it will now allow holders of prepaid payment instruments (PPIs) to make and receive payments through third-party mobile applications using UPI. This game-changing update, aimed at enhancing digital transactions, makes it easier for users to utilize full-KYC PPIs across various platforms.

By enabling UPI payments from and to these full-KYC PPIs, the RBI is pushing for a smoother, more efficient payment ecosystem. This development is expected to make transactions more convenient for users who rely on prepaid wallets, further promoting digital payments across the nation.