With the receipt of Third Party Application Provider (TPAP) approval from National Payments Corporation of India (NPCI), LIGHT Joined Elite Club Of 40 Fintech innovators powering India’s UPI ecosystem
FinTech BizNews Service
Mumbai, 28 October 2025: LIGHT, a new-age fintech is launching Credit for UPI app. The company has announced that it has received Third Party Application Provider (TPAP) approval from National Payments Corporation of India (NPCI), marking a significant milestone that enables it to offer Unified Payments Interface (UPI) services directly through its app.
With this approval, LIGHT - Credit for UPI joins an exclusive group of only around 40
companies that have been granted TPAP approval since 2016. The recognition underscores
LIGHT’s commitment to building a secure, compliant, and innovative digital payments app
that empower customer’s with credit-led UPI payments for India’s growing digital economy.
“Issuing RuPay Credit Cards is need of the hour. We believe customers’ everyday UPI
payments still have room for meaningful innovation. At LIGHT, we’ve kept our focus sharp —
a clean, clutter-free app with one simple promise: Credit for UPI made easy,” said Vidhi
Ashok Bhatt, CEO & Co-Founder, LIGHT.
This TPAP approval authorizes LIGHT to act as a certified UPI app to process customers’
UPI transactions. Customers can avail themselves of a RuPay Credit Card with LIGHT and
link it with LIGHT UPI. The idea is to merge the convenience of UPI payments with the
benefits of credit-based rewards, purchase flexibility, and better cash-flow management.
India’s UPI ecosystem currently processes over ₹24.90 lakh crore in monthly value across
19.63 billion transactions (September 2025), yet roughly 0.5% of these are powered by credit.
Despite the small share, the volume of RuPay Credit Card via UPI transactions has been
doubling year over year as adoption increases. RuPay Credit Cards, which currently hold just
12% market share, are now poised for exponential growth—especially with the RBI’s push
for Credit on UPI and the Unified Lending Interface (ULI) unlocking a once-in-a-decade
inflection point.
With UPI surpassing Visa globally in daily transactions—handling over 650 million
transactions a day compared to Visa’s 639 million—the timing for LIGHT’s entry is historic.
India has already solved the hardest challenge: habit creation. With over 19 billion monthly
transactions, UPI has become a way of life. Now, as the credit layer builds on this foundation,
one winning model can instantly scale to millions of customers in the world’s largest
democracy and consumer market.
As one of the very few fintechs to achieve this regulatory milestone, LIGHT’s approval
signifies a turning point for India’s payments landscape, where innovation increasingly
focuses on credit inclusion and responsible credit growth.
Mr. Srikanth Gundavaram, MD & Co-Founder, LIGHT-Credit for UPI, added, “We’ve
been enabling digital payments in Bharat for over 15 years, and that journey now makes us
feel even more responsible to contribute to the country’s common goal of financial inclusion
through RuPay Credit Card and UPI. We’re truly excited about our exponential go-to-market
journey ahead, always keeping our customers’ needs at the heart of everything we do.”
LIGHT’s launch for RuPay Credit Card + UPI will enable rewarding and secure payments
through a single app experience. The app promises innovations such as digital KYC
onboarding, quick credit access, a feature-rich app, and unified management for both credit
and payments—all within a secure environment.
