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Groww introduces UPI with Pay feature

July 06, 2023

Groww introduces UPI with Pay feature
Financial investment platform Groww, which has been looking to expand its financial services offerings, has started offering a payments feature to users on its broking app.

The platform is using the unified payments interface (UPI) infrastructure and allows users to make peer-to-peer payments as well as payments to merchants through scanning their QR codes.
 
With its payments app, the company is also focusing on the bill payment services: allowing users to make loan and credit card repayments, pay electricity and water bills as well recharge DTH among other options.
 
Groww is a third-party payment app on UPI, which is operated by National Payments Corporation of India. It has onboarded a number of billers on the app through the Bharat Bill Payment System platform.
 
Earlier this year, the company started offering instant personal loans on its platform, providing credit up to ₹5 lakh for a tenure of three months to five years, after it secured a license to operate as a non-banking finance company (NBFC). It also has received an in-principle approval from the Reserve Bank of India for a payment aggregator license.
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