Mufin Group gets RBI’s approval for PPI-licensed Prepaid Wallets


Mufin Group – an ecosystem providing multi-diversified financial enterprises in India, gets RBI’s approval to launch with its PPI-licensed prepaid wallets in India. The award is a historic accomplishment that shows the organisation has successfully obtained all significant RBI licences for its wide variety of regulated businesses, such as Hindon Mercantile, Rupee Circle, and Mufin Green Finance. The team is prepared to introduce their PPI offering, which will go by the name “Mufinpay.”

A wide range of financial services, such as a PPI Wallet, Prepaid Gift Cards, UPI, FastTag, and numerous value-added services on MufinPay, will also be available to MufinPay thanks to the PPI licence. It also intends to introduce its ground-breaking product, the MufinPay “Super App,” a feature-rich financial services programme designed to streamline financial transactions and improve customer satisfaction.

Delighted about the announcement, Ankush Julka, COO at Mufin Group said, “We are truly honoured to be at the forefront of financial innovation in India. Our unwavering commitment to making financial services more accessible, convenient, and user-friendly will be a driving force in reshaping India’s financial landscape. Our journey has just begun, and we look forward to continuing to serve and empower individuals and businesses across the nation.”

“United in purpose, our group is a driving force in reshaping India’s financial landscape. With each unit contributing uniquely to the path of a financial revolution, our PPI-licensed products will empower the underserved customers with unmatched financial inclusivity”, Kapil Garg MD at Mufin Group added.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.