AI-powered fintech platform jUMPP has received approval from the National Payments Corporation of India (NPCI) to operate as a Third Party Application Provider (TPAP), enabling the startup to offer UPI services through its platform.
The approval marks another step in jUMPP’s journey of building a wider digital financial ecosystem for consumers. The development comes shortly after the company received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to distribute insurance products, strengthening its presence across multiple financial service categories.
Founded by Sarvjeet Singh Virk, jUMPP currently provides users access to investment options including digital gold, mutual funds, and systematic investment plans (SIPs). With the introduction of UPI services, users will now be able to make peer-to-peer money transfers, merchant payments, utility bill payments, and mobile recharges directly through the app.
To support its payment infrastructure, jUMPP has partnered with YES Bank for banking and Bharat Bill Payment System (BBPS) services. The platform also leverages the Account Aggregator framework, helping users access a consolidated view of their financial accounts and manage their finances more efficiently.
With a focus on consumers across Tier II and Tier III cities, jUMPP is expanding its product suite to make digital financial services more accessible beyond major urban centres. The addition of UPI services further strengthens its vision of creating a comprehensive platform where users can manage payments, investments, and financial products in one place.
– By Muskan Dengra
