Mumbai-based fintech startup TechFini has secured final approval from the National Payments Corporation of India (NPCI) to operate as a Unified Payments Interface (UPI)-based payment infrastructure provider. This enables TechFini to collaborate with banks and fintech companies.
With this approval, TechFini can now serve as a UPI Issuer 2.0, UPI Acquirer 2.0, and as an issuer and acquirer of credit lines on UPI. Additionally, they can facilitate RuPay credit cards, among other services.
The company has also been certified for UPI Unified Dispute and Issue Resolution (UDIR), making TechFini one of the few platforms equipped to handle complex dispute resolutions.
“We are delighted 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.
Founded in 2023, TechFini 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 exceeded Rs 20 lakh crore in value, reflecting a 49% year-on-year increase, according to NPCI data. The transaction volume for the same month was 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.
