NPST, one of the fastest growing UPI payment solution providers, and GRAMePAY - a Digital Payments Platform, have entered into strategic partnership to foster the growth across multiple Merchant networks.
The alliance also embraces the noble aim of digitizing over 4000 credit cooperative societies through UPI payment solutions and thereby collecting payments conveniently on the platform. Moreover, the endless possibilities include the provision to indulge in business with other payment service providers and deliver an array of banking and payment products.
NPST will now be a one-stop destination that will facilitate all the service stakeholders in the ecosystem with a blend of payment and banking solutions. NPST's TPAP - TimePay is powered and sponsored by Cosmos Bank, a key stakeholder in bringing banking solution on the digital platform in this engagement. Cosmos Bank has a vision to create a large space for itself in ever growing digital banking requirement of the country.
GRAMePAY has multifarious Payments Processing Partners who bring on the table, offerings for Regional Rural Banks, Small Finance Banks, Cooperative Banks, Micro Finance Institutions, and NBFCs, to name a few segments.
On the other hand, NPST is a Third-Party UPI solution provider approved by the NPCI providing a complete UPI Payment stack for payment aggregators and merchants. NPST is a Fintech partner to the banks, functioning as a Technology Service Provider (TSP) and providing certified solutions for online payments.
NPST and GRAMePAY have already entered into an MoU, and the partnership involves tremendous potential across the network of centers acquired by GRAMePAY. While GRAMePAY has been bestowed with access to NPST's UPI payment gateway, NPST can now leverage GRAMePAY's various payment channels, credit cooperative societies, and merchant networks.
Now, the merchants of various credit cooperative societies will be able to switch from traditional to digital payment methods. GRAMePAY merchants are all set to have access to a wide range of banking products, all thanks to its strategic partnership with NPST.
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( With inputs from ANI )
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