TechFini, a Mumbai-based fintech company founded in 2023 by entrepreneurs Mohan Karuppiah and Jai Kumar, is on a mission to transform the payment landscape. By providing a robust, secure, and inclusive payment ecosystem, TechFini empowers banks, financial institutions, and fintech companies to thrive in the digital age. Its comprehensive suite of innovative products includes acquiring and issuing UPI switches, expense management, card management, and payment gateway software, all designed to facilitate seamless and efficient transactions.
Last month, TechFini achieved a major breakthrough by securing a broad range of approvals from the National Payments Corporation of India (NPCI). This sweep of certifications encompasses UPI Issuer 2.0, UPI Acquirer 2.0, Credit Line Issuance and Acquisition on UPI, RuPay Credit Card Enablement, and Recurring Mandate Facilitation on UPI. With this comprehensive green light, TechFini solidifies its position as a leading provider of UPI-based payment solutions, poised to deliver a diverse array of services to banks and fintech entities.
Speaking of the development, Atish Shelar, COO of TechFini, in a statement said
“We are happy to receive certifications from NPCI to facilitate UPI-based payment technologies. This approval acknowledges our efforts to enhance the payments ecosystem and help our clients, as well as their customers, experience seamless UPI payments. We will continue to extend unwavering support to NPCI in driving the Digital India mission.”
UPI transactions skyrocketed to a record-breaking INR 20,070.81 billion in June, a whopping 49% surge compared to last year! The transaction volume was a staggering 13,885.14 million. And that’s not all – TechFini has earned the prestigious UPI Unified Dispute and Issue Resolution (UDIR) certification, making it a trailblazer in the fintech industry. With this expertise, TechFini is now uniquely positioned to tackle even the most complex dispute-resolution challenges with ease and efficiency.
The UDIR certification is a breakthrough achievement for TechFini, transforming the way transaction disputes are handled. This certification introduces a highly efficient and streamlined process, addressing a crucial pain point in the payment ecosystem and poised to have a profound impact on the startup’s success and growth.
Equipped with these certifications, TechFini is now positioned to partner with financial institutions, elevating their payment capabilities, accelerating product development, and driving digital transformation. This collaboration will empower banks, financial institutions, and fintech companies to offer a wide range of payment options, significantly enhancing both online and offline transaction experiences for their customers, and fostering a more inclusive and diverse payment ecosystem.
In conclusion, TechFini’s commitment to innovation and excellence has positioned it at the forefront of the fintech revolution, empowering a more seamless, secure, and inclusive payment ecosystem for all stakeholders, and paving the way for a transformative future in digital payments.
Mohan Karuppiah holds a history of founding and running fintech startups. He has also co-founded the Dubai-based fintech Foloosi, and Chennai-based IppoPay which has scored funding from Caratlane founder Mithun Sacheti.
