Digital wallet payments can now be made using any UPI app
The Reserve Bank of India has now allowed users to pay from their digital wallets using any UPI-enabled app, as long as the wallet has also completed full KYC verification. “A PPI issuer shall enable holders of only its full-KYC PPIs to make UPI payments by linking its customer PPIs to its UPI handle.UPI transactions from PPI on the issuer’s application shall be authenticated using the customer’s existing PPI credentials. “A PPI issuer may also facilitate discovery of its full-KYC PPIs on third-party UPI mobile applications, who, in turn shall enable such PPIs to be linked to their PSP handle/s. Such UPI transactions, from PPIs using third party UPI applications, shall be authenticated using the UPI credentials,” the notification read. The issuer's application will be using the customer's current PPI credentials to authenticate UPI transactions from PPI, making transactions of this kind pre-approved before entering the UPI system.
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