PayNearby, a branchless banking and digital network, has received Third-Party Application Provider (TPAP) approval from the National Payments Corporation of India (NPCI).
The approval allows the company to offer UPI services directly through its own platform.
Following the approval, PayNearby has launched a new application, PayNearby Saathi, to seamlessly onboard citizens on UPI in an assisted mode through PayNearby’s retail network.
The platform will be rolled out via PayNearby’s network of 15 lakh retail partners and Digital Naaris, who support customers with digital financial services at the local level.
PayNearby Saathi is available in multiple Indian languages, offering a simple and comfortable onboarding experience for existing and first-time users. Besides UPI payments, it also integrates key financial services into one unified platform. These services include opening UPI-linked bank accounts, making and receiving payments, paying bills, and more.
The app is supported by a personal AI assistant that helps users navigate the digital ecosystem with confidence. Designed for those new to or who need help with digital services, it provides education, awareness, and real-time guidance across offerings such as UPI, mutual funds, insurance, and savings. With integrated voice assistance, users can learn and transact easily in their local language.
PayNearby Saathi 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.
Over time, the PayNearby Saathi app will further add other essential financial services, including micro-insurance, lending, credit, etc., ensuring long-term financial empowerment for audiences in Bharat.
Anand Kumar Bajaj, Founder, MD & CEO of PayNearby, said, “UPI has gone global and a reflection of India’s strong digital payment 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. Building on this foundation, with PayNearby Saathi, we have simplified technology, localised it, and brought it to their trusted retail stores. The TPAP recognition will further strengthen our commitment of connecting Bharat to India. Our next step is to strengthen our network extensively and ensure that every citizen becomes a part of India’s digital financial revolution.”
