TechFini, a Mumbai-based fintech startup, has completed certification from NPCI to
facilitate UPI based payment solution to Banks, Financial Institutions and Fintech.
The Fintech company has also been approved for UPI Unified Dispute and Issue Resolution (UDIR). The addition of UDIR makes the startup one of the few platforms that supports this capability, which will be a game changer in addressing the intricacies of conflict resolution.
The Unified Payments Interface (UPI)-based transactions hit Rs 20070.81 billion in June, up 49% year on year (YoY), according to data provided on Monday by the National Payments Corporation of India (NPCI). The transaction volume in June amounted at Rs. 13885.14 million. In light of this environment, the startup’s ability to facilitate the NPCI-led UDIR and give UPI users a platform to easily address their disputes is a significant breakthrough.
Also read: NPCI International and Peru’s Central Reserve Bank Collaborate to Launch Real-Time Payments System
TechFini is a comprehensive payment infrastructure solution provider that enables banks, fintech, and financial services organizations of all sizes to integrate and simplify payment systems. TechFini will work with financial institutions to advance their payments capabilities, product journeys, and digital growth after receiving these certifications.
The NPCI certifications authenticate TechFini’s dedication to payment technology innovation and provide authentication to its clients and partners seeking secure, dependable, and trustworthy solutions. Once linked, banks, financial institutions, and fintech companies will be able to offer their customers a variety of payment options as well as frictionless online and offline transactions, enhancing their digital payment experience.
Speaking on the announcement, Atish Shelar, Chief Operating Officer of Tech Fini, said, “We are happy 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. We will continue to extend unwavering support to NPCI in driving the Digital India mission.”
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