Spice Money & Wibmo partner to launch ‘Spice Pay’ in India

By Gloria Mathias

Spice Money, a rural FinTech in India has partnered with Wibmo – A PayU company to launch ‘Spice Pay,’ a transformative UPI solution tailored to empower the citizens of Bharat.

Through Spice Pay, the company will offer Instant Prepaid Cards, and mobile wallets with linked UPI IDs eliminating entry barriers for rural citizens. Spice Pay will also streamline the challenge of mobile number seeding through its Instant UPI ID Creation process, which utilizes eKYC for effortless registration.

Spice Pay will introduce a Standalone Prepaid Wallet account, with a linked UPI ID eliminating the need for traditional bank accounts. The company will also leverage its network of Adhikaris to ensure that the citizens of Bharat are able to access Spice Pay and transact digitally even from the remotest part of the country.

Mr. Sanjeev Kumar, Co-Founder, Executive Director, & CEO at Spice Money, said, “Spice Money is proud to embark on this transformative journey with the launch of Spice Pay. The initiative represents our unwavering commitment to break down barriers and empower the citizens of Bharat. Spice Money is built on the foundation of Digital public infrastructure for good, where we have successfully implemented services like AePS and bill payments, and now, we’re proud to offer UPI.”

Suresh Rajagopalan, CEO, Wibmo, a PayU Company said, “Our partnership with Spice Money for the launch of Spice Pay reaffirms our commitment to offer Digital Banking and Payments platform services to every corner of India. By combining our technological prowess with Spice Money’s extensive network and deep understanding of rural India, we are opening new avenues for millions of Bharat’s citizens. ‘Spice Pay’ is not just a solution; it’s a testament to the power of collaboration, product innovation, and modern technology stack in driving financial empowerment.”