jUMPP: AI-Powered Fintech Platform Approved for UPI Services

jUMPP, the AI-powered fintech platform, has received recognition from the National Payments Corporation of India (NPCI) as a Third Party Application Provider (TPAP). This allows jUMPP to provide UPI services directly through its platform. This latest development follows swiftly after jUMPP obtained approval from the Insurance Regulatory and Development Authority of India (IRDAI) to distribute various insurance products.

Comprehensive Offerings from jUMPP

Founded by Sarvjeet Singh Virk, jUMPP presents a range of investment products including digital gold, mutual funds, and Systematic Investment Plans (SIPs). With the implementation of UPI functionality, jUMPP users will benefit from the capability to perform peer-to-peer transfers, make merchant payments, pay bills, and recharge mobile accounts seamlessly through the app.

Strategic Partnerships to Enhance Services

The startup has formed a collaboration with YES Bank to facilitate banking solutions and leverage the Bharat Bill Payment System (BBPS) for efficient payment services. Furthermore, jUMPP utilises the Account Aggregator framework, enabling users to have a unified view of their financial accounts.

Targeting Users in Tier II and Tier III Cities

jUMPP is particularly focused on reaching users located in Tier II and Tier III cities, thereby expanding its product range to include UPI services for greater accessibility and convenience.