Viyona Fintech Approved as Third-Party Application Provider (TPAP) by NPCI

Hyderabad-based Viyona Fintech, a digital payments platform, has been granted approval by the National Payments Corporation of India (NPCI) to operate as a Third-Party Application Provider (TPAP), enabling support for UPI-based transactions.

Key Details:

• Approved Applications:
  • GraamPay – flagship platform targeting rural India.
  • Viyona Pay – supports UPI-based collections and payments.
• Objective: Expand digital payment access in Tier II, Tier III cities and rural areas.
• Target Users: Farmers, shopkeepers, and households.
• Services Offered:
  • UPI transactions
  • Digital collections
  • Payouts and financial transfers

Third-Party Application Provider (TPAP)

A Third-Party Application Provider (TPAP) is a regulated intermediary that facilitates digital payments (like UPI) between customers and banks through mobile apps or web platforms, without holding the customers’ funds.

Key Features:

• Intermediary Role:
  • Acts as a bridge between banks and end-users for payment initiation.
  • Enables customers to make UPI-based transactions via third-party apps.
• Regulation:
  • Authorized by the National Payments Corporation of India (NPCI).
  • Must comply with security, data privacy, and operational standards prescribed by NPCI.
• No Fund Handling:
  • Unlike Payment Aggregators, TPAPs cannot hold or settle customer funds; the transaction settlement happens directly between the bank accounts of payer and payee.
• Customer Experience:
  • Provides user-friendly interfaces, such as mobile apps, for easy UPI payments, bill payments, and collections.
  • Supports multi-bank interoperability, eliminating the need for users to install multiple bank apps.