UPI Payments: Nowadays, almost everyone prefers to make online payments. Online payments have made many things easier, because now there is no hassle of going to the ATM again and again to withdraw cash, nor is there the problem of keeping change. Most people in the country use UPI for payments.
For this, you must have heard the names of PhonePe, Google Pay and Paytm. Now another company is joining this list. This company has also got approval from the National Payments Corporation of India (NPCI). Its name is Viona. According to a report, Hyderabad-based startup Viona Fintech has received approval from NPCI to operate as a third-party application provider (TPAP), paving the way for its entry into the fast-growing Unified Payments Interface (UPI) ecosystem.
Focus will increase on rural India
The fintech company, which makes GramPay and Viona Pay apps, said in a press release that this approval will accelerate its plans to expand digital payments in India’s Tier II, Tier III and rural markets in partnership with banks. Viona Fintech founder Ravindranath Yarlagadda said that this approval will make UPI payments more easy for farmers, shopkeepers and families. He further said that the company will increase its focus on creating safe and simple financial tools for both urban and underprivileged communities. Overall, the company will increase its focus on users in rural areas who are currently outside the scope of digital payments.
Preparations to start Kisan Bazaar
According to the report, as part of its vision, Viona is also launching a farmers market within GRAAMPAY. The company’s plan will enable farmers to connect directly with buyers for fair pricing, faster settlement and better access to the UPI ecosystem. The platform also promotes rural e-commerce and financial literacy through a network of village level entrepreneurs (VLEs).