PayNearby receives TPAP license from NPCI

The application also integrates Bhashini, the Government of India’s AI-driven speech technology, allowing users to speak in their preferred language, raise queries, and receive instant responses.

PayNearby, a leading fintech company, announced on Tuesday that it secured Third-Party Application Provider (TPAP) authorization from the National Payments Corporation of India (NPCI).

Following this approval, the firm unveiled the PayNearby Saathi app, offering UPI-powered savings accounts, payment solutions, and investment products such as fixed deposits, recurring deposits, gold, and mutual funds. The platform additionally provides credit facilities like personal loans, gold loans, business financing, and credit cards.

Integrated with Bhashini—the Indian government’s artificial intelligence-based speech platform—the application supports multilingual interactions, enabling users to voice queries in their regional languages and obtain immediate replies.

With over 504 million active users, UPI remains India’s dominant digital payment method, poised to expand its reach further. As adoption grows, substantial segments of India’s adult population are initiating their digital transition, necessitating enhanced trust-building, awareness campaigns, and financial literacy initiatives. PayNearby aims to address this need through its network of 1.5 million retail partners and Digital Naaris, facilitating accessible digital transactions across the nation.

Published on December 23, 2025