MPurse: Unified Payment Aggregation & Digital Wallet in India

What Is MPurse?

MPurse Services Pvt. Ltd. is a licensed Indian fintech company that serves as both a payment aggregator and a semi-closed prepaid payment instrument (PPI) provider. Established in 2007, MPurse started as a call center business and has since transitioned into a regulated digital payments provider. It is authorized by the Reserve Bank of India (RBI) to offer both payment aggregation and wallet services, which gives it a unique dual license status in the Indian payments ecosystem.

MPurse provides a full payment solution for online merchants, offline retailers, digital lenders, and businesses in the supply chain and fintech sectors. Its main offerings include easy payment acceptance through UPI, cards, and net banking, a semi-closed wallet for consumers and businesses, and strong APIs for disbursement, collections, and KYC services.

Key Highlights & Credentials

Dual RBI Licensing

MPurse holds two critical authorizations from the Reserve Bank of India:

• Payment Aggregator License – In-principle authorization was granted in November 2022.

• Prepaid Payment Instrument (PPI) License – Renewed as of June 2023, allowing MPurse to issue and manage a digital wallet for Indian customers.

This dual compliance framework strengthens MPurse’s credibility and allows it to deliver secure and compliant payment solutions across a wide range of industries.

MPurse Wallet (Semi‑Closed PPI)

The MPurse Wallet enables customers to store and use funds for various transactions, including:

• Loading wallet funds via UPI, IMPS, NEFT, RTGS, debit/credit cards, or cash through retail agent outlets.

• Wallet-to-wallet transfers and wallet-to-bank transfers within India.

• Issuance of co-branded prepaid cards for retail users or partner platforms.

• Integration with digital lending platforms and supply-chain disbursement systems.

The wallet service is especially useful for businesses looking to implement custom-branded solutions for user retention and seamless in-app transactions.

API‑Driven Integration

MPurse offers a comprehensive and modular set of APIs that cover:

• Payment Acceptance: UPI, debit cards, credit cards, net banking, and other payment methods.

• Disbursement Solutions: Automated fund transfers via UPI, IMPS, NEFT, and wallet-to-bank payouts.

• KYC & Identity Services: Aadhaar and PAN-based KYC for onboarding users, with both full and minimum KYC support.

• Co-Branded Wallets: Businesses can launch their own branded wallet experience using MPurse infrastructure.

• Bill Payments: Integration with BBPS (Bharat Bill Payment System) for utility and telecom bill settlement.

These APIs support secure and flexible integration options for developers and enterprise IT teams.

Advisory & Technology Services

Beyond payments, MPurse also provides:

• Strategic consulting for building digital payment workflows.

• Regulatory guidance for navigating Indian financial compliance.

• Implementation support for prepaid card issuance, UPI integration, and white-label wallet solutions.

These services are ideal for startups and established companies seeking to optimize or launch new payment products.

Use Cases & Target Merchants

MPurse serves a broad range of business sectors with its versatile platform. Some of the most common use cases include:

1. E‑Commerce & Retail Merchants

MPurse enables online sellers and physical retailers to accept a wide range of digital payments while offering refund and disbursement automation. The platform reduces payment friction and improves cash flow visibility.

2. Fintech Startups & Digital Lenders

Fintech companies and lending platforms can use MPurse to disburse funds directly to user bank accounts or wallets, and to collect repayments via UPI or auto-debit. The KYC-compliant onboarding ensures regulatory alignment.

3. Supply Chain & Logistics Providers

For businesses needing to make regular vendor or driver payments, MPurse provides scalable payout APIs, making it easy to automate, track, and reconcile large volumes of transactions.

4. Mobile Wallet & Card Issuers

Brands looking to launch a wallet or prepaid card can use MPurse’s co-branded infrastructure. This is suitable for loyalty programs, fuel cards, gig economy payment apps, and more.

Benefits of Using MPurse

Full Regulatory Compliance

MPurse’s dual licensing ensures full compliance with India’s evolving digital payments regulations, offering peace of mind for businesses concerned about legal risk and data protection.

Streamlined Cost & Operations

By consolidating multiple payment and disbursement services under one platform, MPurse reduces operational complexity and cost, eliminating the need for multiple vendors.

Developer-Friendly Stack

MPurse offers detailed technical documentation, sandbox environments, and support from integration engineers. This makes it easy for tech teams to roll out payment functionality quickly and with minimal risk.

Pan‑India Reach

With digital onboarding and offline cash agent channels, MPurse is suited for businesses with customers in both metro cities and rural areas, enhancing financial inclusion.

Compliance, Security & Governance

MPurse places strong emphasis on security and data privacy:

• Licensing: Fully regulated under RBI’s Payment Aggregator and PPI frameworks.

• Data Protection: Implements encryption standards, access controls, and secure programming practices.

• Anti-Money Laundering (AML): Adheres to RBI-mandated KYC/AML guidelines.

• Fraud Prevention: Includes real-time transaction monitoring and chargeback management tools.

Businesses working with MPurse benefit from its mature risk management systems and privacy controls.

Customer Support & Onboarding

MPurse provides dedicated support across various departments:

• Payment Aggregation services

• Wallet/Card services

• Sales and onboarding inquiries

Support is available via email, phone, and contact forms. The onboarding process includes KYC validation, API sandbox access, and integration walkthroughs with MPurse’s implementation team.

Headquartered in Gurugram with a registered office in New Delhi, MPurse is well-positioned to serve businesses across India.