EbixCash expands wallet utility through BHIM UPI, eyes higher customer activation
EbixCash, one of India's leading digital payments and fintech solutions providers, today announced that its Prepaid Payment Instrument (PPI) Wallet is now discoverable on BHIM UPI, enabling its over 14 lakh active wallet users to seamlessly link their wallet and make UPI payments using their wallet balance across merchants accepting UPI QR payments.
The integration represents a significant milestone in EbixCash's digital payments journey, bringing its wallet into India's interoperable UPI ecosystem. The wallet currently processes approximately Rs 2 crore in monthly transaction value, with onboarding momentum of nearly 100 new users joining the platform every day.
By integrating with BHIM UPI, the EbixCash Wallet becomes part of customers' existing UPI payment experience, allowing them to use their wallet balance for QR-code-based payments without relying on a separate payment journey. The move aligns with the National Payments Corporation of India's (NPCI) vision of a more open, interoperable and inclusive digital payments ecosystem, enabling prepaid payment instruments to participate seamlessly within the UPI infrastructure.
Commenting on the announcement, Mr. Sharan Pardeshi, AVP – Product & Alliances, EbixCash, said, "Digital payments are increasingly moving towards interoperability, where customers expect the flexibility to use their preferred payment instrument across platforms. For a wallet business, discoverability on BHIM UPI is what turns stored value into everyday spending power, customers no longer need to think of their wallet balance as separate from their regular UPI payments. That shift is what will compound registrations, transaction volumes and merchant usage over the coming months."
The BHIM UPI integration also an important part of EbixCash's broader digital payments strategy, with plans to further extend wallet interoperability to additional UPI platforms, including Google Pay and PhoneP, enabling customers to access and use the EbixCash Wallet across an even wider digital payments ecosystem.
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