EbixCash has integrated its Prepaid Payment Instrument (PPI) Wallet with BHIM UPI, allowing its more than 14 lakh active wallet users to make UPI QR code payments directly using their wallet balance. The move is aimed at boosting customer engagement and increasing transaction volumes by making the wallet part of India’s mainstream UPI ecosystem.
The fintech company said the integration enables customers to link their EbixCash Wallet with BHIM UPI and make seamless payments at merchants accepting UPI QR codes without requiring a separate payment journey.
The wallet currently processes around ₹2 crore in monthly transaction value, while nearly 100 new users are being onboarded every day. The company expects the BHIM UPI integration to accelerate user activation and improve wallet usage by embedding it into customers’ existing UPI payment experience.
Driving wallet adoption
The integration aligns with the National Payments Corporation of India’s (NPCI) push for a more interoperable and inclusive digital payments ecosystem by enabling prepaid payment instruments to function seamlessly within the UPI infrastructure.
EbixCash believes greater discoverability on BHIM UPI will encourage customers to use their wallet balances more frequently for everyday transactions instead of treating them as a separate payment option.
EbixCash, AVP, Product & Alliances, Sharan Pardeshi, said, “Digital payments are increasingly moving towards interoperability, where customers expect the flexibility to use their preferred payment instrument across platforms. For a wallet business, discoverability on BHIM UPI is what turns stored value into everyday spending power. Customers no longer need to think of their wallet balance as separate from their regular UPI payments. That shift is what will compound registrations, transaction volumes and merchant usage over the coming months.”
Expansion roadmap
Pay and PhonePe, enabling customers to use the EbixCash Wallet across a wider range of payment applications.
EbixCash operates an end-to-end digital financial services platform with an omni-channel presence backed by a physical distribution network of over 6.5 lakh outlets across 4,000 cities and 75,000 villages. Its businesses span digital payments, domestic and international remittances, foreign exchange, prepaid cards, travel, insurance and financial technology solutions.
The company is part of Eraaya Lifespaces Ltd, the global holding company of Ebix Inc. and its worldwide subsidiaries, with operations across 13 countries spanning technology, payments, travel and emerging digital businesses.