RBI allows UPI access via third-party prepaid payment instruments

MUMBAI: The Reserve Bank has allowed the popular unified payments interface (UPI) access to prepaid payment instruments (PPIs) through third-party applications, making it easier for users to link their digital wallets to UPI-enabled apps, which will go a long way in making banking more accessible.

In a circular issued to all prepaid payment instruments issuers such as banks and non-banks, the National Payments Corporation (NPCI) and system participants on Friday, the central bank said henceforth, all prepaid payment instruments (PPIs) can access the UPI through the third-party applications.