The NPCI (National Payments Corporation of India) recently permitted One97 Communications (OCL) to serve as a Third Party Application Provider (TPAP) on UPI (Unified Payments Interface).
About the Third Party Application Provider (TPAP):
- The TPAP provides UPI-compliant applications or platforms, like mobile wallets and merchant apps, facilitating payment transactions for customers and merchants.
- They function through PSP (Payment Service Provider) banks as intermediaries, ensuring transaction security and efficiency.
- To become a TPAP, entities must secure a TPAP license from NPCI.
- Currently, there are 24 operational TPAPs in India, including Amazon Pay, PhonePe, and Google Pay.
Ref:Source
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