Pune Fintech Fibe Enters UPI Payments Market After NPCI Approval

Indian financial technology company Fibe, formerly known as EarlySalary, has expanded into the Unified Payments Interface (UPI) ecosystem following approval from the National Payments Corporation of India (NPCI) to operate as a Third-Party Application Provider (TPAP). The development marks an important expansion of the Pune-based company’s financial services business, allowing consumers to conduct everyday digital transactions through an application previously associated primarily with lending and credit products.

Announced on November 2 and subsequently reported by industry publications on November 3, the new service enables users to make UPI payments through linked bank accounts, RuPay credit cards and eligible credit lines. Fibe has confirmed that the facility will be available to consumers across India, including individuals who have not previously used its lending services. The launch broadens the company’s presence in India’s digital financial ecosystem by bringing payment services alongside its existing consumer finance offerings.

NPCI Approval Enables Fibe to Operate as a UPI Application Provider

The National Payments Corporation of India has approved Fibe to operate as a Third-Party Application Provider, enabling the company to offer UPI transactions directly through its mobile application. Under the UPI framework, third-party application providers deliver payment services to consumers through arrangements with participating banks and the NPCI-operated payment network.

This model allows technology companies to develop payment interfaces without requiring them to operate as conventional deposit-taking banks. Users can link eligible bank accounts and other supported payment instruments to initiate transactions through a common application, subject to the security and operational requirements governing the UPI ecosystem.

For Fibe, the approval provides an opportunity to extend its relationship with consumers beyond loan applications, repayments and other credit-related activities. The integration of UPI functionality means the company’s application can now support routine digital payments, creating additional opportunities to engage users who may not require borrowing services.

The development also represents a strategic expansion for an Indian fintech enterprise that began operations in digital lending and has progressively introduced products covering different financial requirements. By entering the UPI market, Fibe is building a broader consumer financial services platform incorporating both borrowing and payment capabilities.

Bank Accounts, RuPay Credit Cards and Credit Lines Supported

Fibe’s new payment service supports three categories of UPI-linked financial instruments: bank accounts, eligible RuPay credit cards and approved credit lines. The company intends to provide consumers with greater flexibility in choosing how they complete supported digital transactions.

Traditional bank-account-based UPI payments allow users to transfer funds directly through the payment network using linked accounts. This remains the principal method through which consumers undertake everyday UPI transactions, including payments to merchants and transfers between individuals.

The integration of RuPay credit cards provides an additional option for eligible merchant payments. Customers possessing supported RuPay credit cards can link them to UPI and use the available credit facility for permitted purchases, subject to applicable card issuer conditions and NPCI rules.

Credit lines on UPI represent another development in India’s digital payments framework. The Reserve Bank of India has enabled eligible pre-sanctioned credit facilities to be linked with UPI, allowing borrowers to use approved credit limits for permitted transactions with their consent.

These credit-based payment options remain subject to the terms established by participating financial institutions. Fibe’s UPI approval does not automatically provide every user with a credit facility, and eligibility for borrowing continues to depend on the relevant lender’s assessment and applicable regulatory requirements.

From Digital Lending Startup to Broader Financial Services Platform

Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe initially established its business under the EarlySalary brand, focusing on technology-enabled personal lending. The company subsequently expanded its portfolio to include additional financial products serving different consumer requirements.

Its existing offerings include personal loans, the Fibe Axis Bank Credit Card, third-party fixed deposits and loans against mutual funds. The company has also developed financing solutions for healthcare, education and rooftop solar installations, reflecting its efforts to participate in a wider range of consumer financial services.

The launch of UPI payments adds a transaction-oriented service to this portfolio. Unlike lending products that customers may use periodically, payment applications can become part of daily financial activity, allowing companies to serve consumers across a broader range of financial interactions.

Fibe’s expansion follows its earlier introduction of a co-branded RuPay credit card with Axis Bank in October 2023. The card was designed for digital usage and UPI integration, providing the company with experience in connecting consumer credit products to India’s payment infrastructure.

The new UPI facility extends this approach by enabling eligible consumers to use multiple payment instruments through the Fibe application. It also opens the platform to individuals who may wish to use its payment services without applying for loans or subscribing to other financial products.

India’s Expanding UPI Ecosystem Creates New Opportunities

Fibe’s entry comes amid continued growth in India’s Unified Payments Interface ecosystem, which has emerged as a central component of domestic digital transactions. UPI provides an interoperable framework connecting banks, payment applications, merchants and consumers, supporting digital payments through a common infrastructure.

According to NPCI data reported for October 2026, UPI processed approximately 25.47 billion transactions worth ₹31.53 lakh crore, reflecting the scale of adoption across the country. Transaction volumes increased by approximately 23% year-on-year, while transaction value recorded growth of around 16%.

The expanding network creates opportunities for additional fintech companies to develop payment services for consumers and businesses. By providing access to UPI infrastructure, the TPAP framework enables approved technology companies to introduce new applications and integrate payment functions into existing digital platforms.

For companies originating in digital lending, the integration of payments can support the development of more comprehensive financial services. Customers can access routine transactions alongside other financial products, while the company can extend its services to a broader user base.

The growth of UPI has also encouraged innovation involving credit-linked payments, merchant transactions and financial products connected to digital payment applications. These developments are expanding the range of services available through India’s domestic payments infrastructure.

Fibe Seeks Greater Consumer Choice in Digital Transactions

Akshay Mehrotra, Managing Director and Group Chief Executive Officer of Fibe, said the company sees digital payments as an increasingly important part of consumers’ everyday financial activities. He emphasised that the objective of expanding into UPI is to provide users with greater flexibility, convenience and control over their payment choices.

The company’s approach brings together deposit-account payments and eligible credit-based transactions within a common application. Such integration can provide consumers with different options for funding purchases while allowing them to access other financial services through the same platform.

Fibe’s UPI offering will also be accessible to individuals outside its existing customer base, enabling the company to participate in India’s wider digital payments market. This expansion allows the fintech enterprise to reach consumers who may initially engage with the platform only for payment services.

The launch does not alter the regulatory conditions governing loans, credit cards or bank credit lines. Customers using credit-based payment instruments remain subject to the applicable borrowing terms, repayment obligations and transaction restrictions established by their financial institutions.

Indian Fintech Companies Expand Beyond Traditional Lending

The introduction of UPI payments represents a significant development in Fibe’s transformation from a specialised digital lender into a broader financial technology platform. The company is extending its services into an established national payments infrastructure while building on its existing experience in consumer finance and technology-enabled financial products.

The move also demonstrates the opportunities available to Indian fintech enterprises through regulated access to domestic digital payment systems. By integrating banking, credit and payment capabilities, approved technology companies can develop services addressing a wider range of consumer requirements.

For India’s financial technology industry, Fibe’s expansion illustrates the continuing diversification of digital financial services. Companies that initially concentrated on lending, investment products or other specialised activities are increasingly exploring payment infrastructure as an additional channel for consumer engagement.

With NPCI approval secured and UPI functionality introduced, Fibe has established a presence in India’s everyday digital payments market. The development strengthens the participation of an Indian private-sector fintech company in the country’s expanding financial infrastructure while offering consumers another platform for accessing supported UPI payment services.

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