TMB boosts UPI collections with new fintech partnerships

Tamilnad Mercantile Bank (TMB) has partnered with Rugr FinTech Private Limited to accelerate UPI collections. This collaboration leverages TMB's Hosted UPI Switch – TechFini, procured from Fin Meadows Technologies Pvt. Ltd., enabling Rugr to source RBI-licensed payment aggregators for UPI merchant collections. The initiative aims to strengthen TMB's digital payment ecosystem, allowing regulated payment aggregators and gateways to route UPI transactions through TMB's platform, ensuring high success rates and regulatory compliance.

Separately, TMB also formalized a strategic partnership with Fin Meadows Technologies Private Limited as a technology service provider for UPI Switching through their Tech Fini UPI Switch. This partnership focuses on enabling faster, secure, and scalable UPI solutions for payment aggregators, NBFCs, merchants, and fintech partners. It also extends UPI use cases to lending and collections via TechFini's UPI Autopay solution, supporting automated EMI and loan repayments with multiple options including QR codes or UPI Autopay.

TMB, with its headquarters in Thoothukudi, Tamilnadu, boasts over 100 years of operation, 601 branches, and 12 regional offices across 17 states and 4 union territories, serving more than 5.30 million customers.