Digital lender Fibe makes UPI debut
What's the story
Digital lending platform Fibe has expanded its financial services portfolio by launching Unified Payments Interface (UPI) services on its app. The move comes after the National Payments Corporation of India (NPCI) approved Fibe as a Third-Party Application Provider (TPAP). The new UPI service will be available to all consumers across India, even those who are not existing customers of Fibe.
Service details
New service allows payments directly from bank accounts
The new UPI service from Fibe will let users make payments directly from their bank accounts, RuPay credit cards, and eligible credit lines linked to UPI.
This offering will allow users to access these payment options through the Fibe app.
The launch of this service marks a major milestone in Fibe's journey as it enters the UPI payments segment and expands its range of financial services.
CEO statement
Digital payments have become a core part of consumers' transactions
Akshay Mehrotra, Managing Director and Group CEO of Fibe, commented on the launch by saying digital payments have become a core part of consumers' day-to-day financial transactions.
He emphasized that the company's focus is to give users more choice and control over their payments.