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Groww introduces UPI with Pay feature
July 06, 2023
![Groww introduces UPI with Pay feature](https://tscfm.org/wp-content/uploads/2023/07/Groww-introduces-upi-with-pay-feature-1024x768.png)
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.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/