OmniCard in association with NPCI, Goes live with UPI as a Prepaid Issuer
Mar 16, 2023
Noida (Uttar Pradesh) [India], March 16 (ANI/BusinessWire India):
has launched UPI services without the need to link a Bank Account for its users. OmniCard ensures highest safety features for its users by offering a bank-independent UPI facility with its own UPI handle @OMNI. Users can now pay to any UPI QR code or any UPI ID using their OmniCard wallet balance without exposing their bank accounts. @OMNI UPI amplifies safety by ensuring a layer that limits the risk of amount a user adds to their OmniCard wallet rather than exposing life savings stored in the bank accounts.
OmniCard is an RBI-licensed PPI offering India's 1st Omnichannel spending platform with UPI services for individuals as well as businesses. This development comes after RBI approved & NPCI enabled PPIs to provide UPI services that'll make UPI more inclusive & convenient.
Also, OmniCard is available as a RuPay Prepaid Card, RuPay OTG (Wearable) and is accepted across all merchants via POS offline and online gateways. OmniCard users also get the facility to withdraw cash at any ATM in India.
OmniCard has also launched its services for enterprises to enable their end-to-end business spending. With OmniCard, businesses can issue cards to their employees, value chain and their customers with the convenience of UPI linked to the card that offers widespread payments to all merchants and not just restricted to POS merchants. UPI Payments provide swift and convenient spending for businesses. OmniCard spend management solutions caters to SMEs & Corporates by providing a one-stop payment solution that ensures zero leakages and paperless business spends & employee reimbursements, petty cash management leading to increased efficiencies within teams.
On this game-changing development,
, the COO & Co-Founder of OmniCard said, "We are delighted to launch our bank-independent VPA @OMNI for our users. We are focused on driving UPI for Businesses to help simplify & optimize their Spending. We are proud to pioneer UPI Payments for Business & Corporate Spending. UPI is a crucial part & stepping stone of our larger goal to provide Omnichannel Spending Solutions to Businesses across the country."
Nalin Bansal, Chief of Corporate and Fintech Relationships and Key Initiatives at NPCI said, "We are pleased to see OmniCard enabling UPI interoperability on their PPI app. PPIs offer a great use case for consumers and business to provide purpose-specific accounts including foreign travellers and NRIs. Enabling PPIs over UPI will go a long way in providing greater convenience and flexibility to users in making digital transactions across the entire UPI ecosystem. We appreciate OmniCards' efforts in promoting interoperability and look forward to working together to promote digital payments in India."
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
