Zaggle Prepaid Ocean Services Limited, a spend management company, on Wednesday announced that it has secured a Third-Party Application Provider (TPAP) approval from the National Payments Corporation of India (NPCI).
The development will enable Zaggle to offer UPI-based payment solutions directly through its platform, empowering over 3 million engaged users across its digital ecosystem, the company said in a statement.
With UPI becoming a preferred mode of transaction in India, Zaggle's move into the TPAP space marks a leap toward offering a unified, cashless, and fully integrated financial experience for both businesses and individuals, it said.
The TPAP license enables Zaggle to offer a comprehensive financial suite that combines payments, expense management, tax-saving tools, and value-added financial services within a single interface, it said.
From instant expense reimbursements and streamlined insurance payments to recurring SIP mandates and much more, UPI integration will redefine the user experience across every financial interaction, Zaggle chairman Raj P Narayanam said.
Users will be able to access UPI payments integrated with Zaggle's multi-wallet prepaid cards, including meal and fuel cards, enabling quick, on-the-go transactions, it said.
The platform will also offer a comprehensive suite of embedded financial services, ranging from discovery of credit line on UPI, personal loans and fixed deposits to mutual fund investments, BBPS utility bill payments, and OPD healthcare wallets – all powered through UPI rails, it added.
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