About the Third-Party Application Provider (TPAP):
- It is an entity that provides UPI-compliant app(s) to the end-user customers to facilitate UPI-based payment transactions.
- These applications could be mobile wallets, merchant apps, or any other platform that utilises UPI for payments.
- NPCI, the umbrella organisation for operating retail payments and settlement systems in India, owns and operates the UPI platform.
- Working of TPAPs
- TPAPs leverage the UPI infrastructure provided by NPCI and work with payment service providers (PSPs) and banks to facilitate transactions.
- They are responsible for ensuring that their applications adhere to security standards and compliance guidelines set by NPCI.
- As per the current regulations, payment service providers (PSPs) need to obtain a TPAP licence from NPCI to run UPI services and facilitate merchant transactions through partner banks.
- Currently, there are 22 NPCI-approved 3rd party Unified Payments Interface (UPI) apps that can be used to send and receive money from other UPI users by using UPI IDs.
- They include Amazon Pay, Google Pay, Groww, Jupiter Money, Mobikwik, Phonepe, Samsung Pay, TataNeu and Whatsapp.
