PayNearby receives NPCI approval to operate as a UPI TPAP, launches PayNearby Saathi for rural India

Fintech startup PayNearby has received approval from the National Payments Corporation of India (NPCI) to operate as a Third-Party Application Provider (TPAP) on UPI, allowing the company to offer UPI services directly through its own platform.

Following the approval, the startup has rolled out PayNearby Saathi, a new app focused on assisted UPI onboarding and usage through its existing retail-led distribution network.

The Saathi platform is being rolled out via PayNearby’s neighbourhood retailers and its network of Digital Naaris, with a particular focus on semi-urban and rural markets where digital adoption is still at an early stage.

UPI currently has more than 500 million active users, but a large segment of India’s adult population is only beginning its transition to digital payments, especially outside major cities.

PayNearby Saathi supports UPI payments and core banking-linked services, including opening UPI-enabled bank accounts, sending and receiving money, and bill payments.

The application also aggregates access to selected financial products such as fixed deposits, recurring deposits, gold, mutual funds and certain credit offerings. Over time, the company plans to add additional services, including micro-insurance, lending and other credit products.

To address language and digital literacy barriers, the app is available in multiple Indian languages and offers voice-based navigation. It integrates Bhashini, the Government of India’s AI-driven speech technology platform, enabling users to interact with the app through spoken commands in their preferred language. An in-app AI assistant provides real-time guidance, helping users understand and complete transactions and learn about financial products such as insurance, savings and investments.

Anand Kumar Bajaj, Founder, Managing Director and CEO of PayNearby, said, “UPI has gone global and is a reflection of India’s strong digital payments ecosystem. Yet, for millions in India, this digital revolution is still waiting to unfold fully. Our Distribution-as-a-Service model solves for accessibility challenges, especially in semi-urban and rural areas. With PayNearby Saathi, we have simplified and localised technology and brought it to trusted neighbourhood stores. The TPAP recognition will further strengthen our commitment of connecting Bharat to India’s digital financial ecosystem.”

Founded in 2016, PayNearby operates a branchless banking and digital services network based on a B2B2C model. The company works with more than 12 lakh retail partners across over 20,000 PIN codes, facilitating assisted digital transactions for customers in both urban and non-urban India.