Digital lending platform Fibe has launched Unified Payments Interface (UPI) services on its app after receiving approval from the National Payments Corporation of India (NPCI) to operate as a Third-Party Application Provider (TPAP).
The UPI service will be available to consumers across India, including those who are not existing Fibe customers, the company said on November 2.
Users will be able to make UPI payments through their bank accounts, RuPay credit cards and eligible credit lines linked to UPI. The offering will allow users to access these payment options through Fibe’s app.
The launch marks Fibe’s entry into the UPI payments segment as it expands its financial services portfolio. The company already offers products such as credit cards, fixed deposits, loans against mutual funds, and financing for healthcare, education and rooftop solar installations.
Commenting on the launch, Akshay Mehrotra, Managing Director and Group CEO of Fibe, said digital payments had become central to consumers’ everyday financial transactions, adding that the focus was on providing users with greater choice and control over payments.