New Delhi: In a significant boost to India’s digital payments ecosystem, the National Payments Corporation of India (NPCI) has granted approval to two emerging fintech platforms — GraamPay and Viyona Pay — to operate within the Unified Payments Interface (UPI) framework.
The move is expected to further democratise access to digital transactions, especially in Tier-II and Tier-III cities, where fintech penetration is steadily rising.
Both companies received NPCI’s nod under the Third-Party Application Provider (TPAP) model, which allows non-bank entities to offer UPI-based services in collaboration with banking partners. With this approval, users will soon be able to transact via GraamPay and Viyona Pay, adding to the growing list of UPI-enabled apps available in the Indian market.
GraamPay, which positions itself as a rural-first digital payments solution, aims to bridge the urban-rural divide by offering simplified financial tools tailored for semi-urban and rural users. Viyona Pay, on the other hand, is targeting digitally savvy consumers with a focus on secure, user-friendly interfaces and value-added features.
Industry experts view NPCI’s decision as a strategic step towards enhancing competition and innovation in the UPI space, which has already revolutionised how Indians send and receive money. With over 10 billion monthly transactions and counting, UPI continues to be the backbone of India’s digital economy.
The entry of new players like GraamPay and Viyona Pay is expected to bring fresh energy to the sector, offering consumers more choices and fostering inclusive financial growth.