Viyona Fintech Gets NPCI TPAP Nod for UPI Apps
Why in the news
Viyona Fintech, a Hyderabad digital payments firm, got NPCI approval to work as a Third-Party Application Provider (TPAP) for UPI.
Key facts
| App | Role |
|---|---|
| GraamPay | Flagship platform for rural India |
| Viyona Pay | UPI-based collections and payments |
- Aim: expand digital payments in Tier II and Tier III cities and rural areas; users are farmers, shopkeepers and households.
- Services: UPI transactions, collections, payouts and transfers.
About a TPAP
- A regulated intermediary linking customers and banks for UPI through apps, without keeping customer funds.
- Authorised by NPCI; must meet its security, privacy and operating standards.
- Unlike payment aggregators, it cannot hold or settle money; settlement is directly between payer and payee bank accounts.
- Multi-bank interoperability means users need not install many bank apps.
Exam angle
- Approving body: NPCI. TPAP versus payment aggregator: no fund handling.