- Non-banks like Amazon Pay, Google Pay, Mobikwik, PhonePe, and WhatsApp etc. need to obtain this license from NPCI to use the UPI, Fastag & other services of NPCi.
- Previously, Paytm did not require such license because it was a payment bank.
- But, from January 31, 2024, the RBI began restricting all banking activities for Paytm Payments Bank (Company’s name: One97)
- So, now PayTM applying for TPAP license from NPCi.
🙋🏼♀️[FAQ]: How can NPCi give license? it is not a statutory body unlike RBI.
[Ans] Don't mix the word 'license' with sarkaari type licenses (Gun /vehicle/bank etc.)
Here, the word license is in context of getting permission from a company. Example, If you want to use Photoshop software, you have to "buy" license from Adobe company.
📝[Practice MCQ] How many of the following are correct about TPAP license?
- 1) This license needs to be obtained from TRAI.
- 2) This license required for providing Voice-Over Internet protocol (VOIP) facility.
- 3) WhatsApp India has TPAP license as of 2024-January.
Answer Codes
- A) only one of these
- B) only two of these
- C) All three of these
- D) None of these
[Correct Answer]: A
[Explanation]:
- St1 wrong. NPCI gives this license, and NOT TRAI.
- St2 wrong. It’s required for the UPI access and not for VoIP Access.
- St3 right. Whatsapp had to obtain this license for providing the Whatsapp pay service.
Therefore, the answer is A.
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Негізгі бет [Economy] NPCi’s TPAP License for PayTM- Third Party Application Provider Explained | UPSC
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