MuffinPay Business
Payments built for India. Connected to the world.
PPI wallets, RuPay prepaid cards, payment gateways and Bharat Connect bill payments in India. Direct benefit transfer and digital rupee (CBDC) for government. Cross-border payments and stablecoin banking for business.
Exchange rates
Connecting…Solutions
Every payment product, from a state wallet to a stablecoin account.
We design, build and run payment products as your technology partner. Regulated pieces run on licensed partners in each market.
PPI wallets
Co-branded prepaid wallets issued under our partner's RBI PPI authorisation. Small and full-KYC wallets with UPI, Aadhaar e-KYC and limits built in.
RuPay prepaid cards
Physical and virtual RuPay cards for staff, gifting, meals, transit and benefits, issued through licensed issuing partners.
Payment gateway development
White-label payment gateways for banks, fintechs and departments. UPI, cards, net banking and e₹, with settlement under a Payment Aggregator authorisation.
Bharat Connect bill payments
Electricity, water, gas, broadband, FASTag, loan EMIs and school fees inside your app or at your counters.
UPI collections and payouts
Dynamic QR, collect requests, autopay mandates and instant payouts to any bank account or UPI ID.
State wallet
A state-branded citizen wallet for benefits, bill payments and local spending, delivered through MoU, PPP or tender.
Direct Benefit Transfer (DBT)
Send scheme benefits straight to a citizen's wallet or bank account, with purpose rules, reconciliation and a live dashboard.
Government payments and collections
Taxes, fees, fines and challans collected online and at counters, settled to the department and reconciled to the treasury.
Digital rupee (CBDC)
Programmable e₹ for subsidies, allowances and citizen payments, as technology partner to a participating bank.
Cross-border payments
Pay suppliers and partners between India, the UAE, the US, the UK, Canada and Singapore, settled in minutes over Stellar or the XRP Ledger.
Inbound remittances
Money from family abroad, credited to an Indian bank account, UPI ID or wallet.
Cross-border bill payments
Indians abroad pay electricity, school fees and other bills back home through Bharat Connect's cross-border bill payments.
Cross-border neobank
One business account with INR, AED, USD, GBP and USDC balances, cards and payouts, through licensed partners in each market.
Stablecoin banking
Hold, send and receive USDC with approval rules, and move between USDC and local currency when you need to.
DeFi banking rails
On-chain settlement, smart-contract escrow and transparent ledgers on Stellar and the XRP Ledger. We do not offer yield products.
OTC desk
Larger USDC trades priced by a person and settled to your bank in INR, AED or USD.
Stellar and Ripple solutions
Anchors, payout corridors, escrow and treasury flows built on Stellar and the XRP Ledger.
Payroll
Salaries in India and abroad in one run, with contractors paid in USDC if they choose.
Invoicing
Send invoices your customers pay by UPI, card, bank transfer or USDC, reconciled automatically.
Bulk payouts
Pay hundreds of vendors from one approved file. Each payment takes the fastest rail for its country.
Corporate cards
A card for every team, with category rules and monthly limits you change in seconds.
Platform
Try the products.
Working demos with sample data, priced at the exchange rates on this page.
Cross-border payments
See the path your money takes.
Choose two currencies and a network. We draw the route, price it at today's rates and compare it with a bank wire.
OTC desk
USDC in. Rupees, dirhams or dollars out.
USDC sells for more in India than the bank rate. We price your rupee payout off live USDC and USDT rates on Indian exchanges, so you get the India premium, not the bank rate.
QUOTEIllustrative pricing. Your desk quote after KYC is final.
Rails
Built on the networks money already moves on.
India's national rails for payments at home. Open networks for speed across borders.
India rails
Collect and pay across India on the rails people already use.
- UPI collections, autopay and payouts
- IMPS, NEFT and RTGS transfers
- Bharat Connect bill payments, at home and from abroad
- RuPay prepaid cards through issuing partners
e₹ for business and government
Programmable digital rupee for allowances, vendors and merchants.
- Purpose-bound allowances and reimbursements
- e₹ acceptance for merchants
- Offline e₹ for field teams
- With a partner bank, subject to RBI approval
Card issuing
Corporate, prepaid and travel cards with live spend controls.
- Physical and virtual cards
- Fund from INR, USD or USDC balances
- Category and limit rules per card
- Issued through licensed issuing partners
Stellar solutions
Low-cost USDC payments with on and off ramps in many countries.
- Anchor integration (SEP-24, SEP-31)
- Cross-border payouts settled in seconds
- Cash pick-up for unbanked recipients
- Soroban smart contracts for escrow
Ripple and XRP Ledger solutions
Corridor payments and treasury settlement on the XRP Ledger.
- Cross-border corridors with XRPL settlement
- RLUSD and USDC settlement
- On-ledger escrow and payment channels
- Built-in currency exchange
Stablecoin treasury
Hold dollars as USDC and convert to local currency when you need to.
- Business wallets with approval rules
- Mint and redeem through regulated partners
- Stellar, XRP Ledger and Ethereum
- Statements your auditor can read
Regulated in India
Rupee payments on RBI-authorised rails.
Our rupee wallets, cards and collections run under the RBI authorisations of our licensed partner, with Aadhaar e-KYC and India's national payment networks.
Reserve Bank of IndiaPrepaid wallets and cards
Issued under a Prepaid Payment Instrument (PPI) authorisation
Reserve Bank of IndiaPayment collections
Collected and settled under a Payment Aggregator authorisation
UIDAIAadhaar e-KYC
Customer verification as a Sub-AUA/KUA
This applies to rupee payment services in India. USDC, the OTC desk and other digital asset services are a separate business line and are not regulated by the Reserve Bank of India.
Government and public sector
State wallets, DBT and the digital rupee.
Each programme has its own site. Both are password protected; ask us for access.
A state-branded citizen wallet for DBT, payroll and collections.
Run on the rails of RBI-authorised partners and delivered through MoU, PPP or tender.
Public money. Spent as intended.
Programmable e₹ for subsidies, allowances and citizen payments, with MuffinPay as technology partner to a participating bank.
FAQ
Questions we get asked.
Can't find yours? Write to us at info@muffinpay.com.
What does MuffinPay Business do?
MuffinPay Business designs, builds and runs payment products: PPI wallets, RuPay prepaid cards, payment gateways, Bharat Connect bill payments and UPI in India; state wallets, Direct Benefit Transfer and digital rupee (CBDC) programmes for government; and cross-border payments, remittances and stablecoin banking for businesses.
Is MuffinPay an RBI-licensed wallet provider?
MuffinPay is a technology provider. Our rupee wallets, prepaid cards and payment collections are issued and settled under the RBI Prepaid Payment Instrument (PPI) and Payment Aggregator authorisations of our licensed partner, with Aadhaar e-KYC.
Can you build a PPI wallet or RuPay prepaid card programme for us?
Yes. We build co-branded PPI wallets with UPI, KYC and limits, and RuPay prepaid card programmes (physical and virtual) for employees, benefits, gifting, meals and transit, issued through licensed partners.
Do you develop payment gateways?
Yes. We build white-label payment gateways for banks, fintechs and government departments, accepting UPI, RuPay and other cards, net banking and the digital rupee, with settlement under a Payment Aggregator authorisation.
Do you offer Bharat Connect bill payments, including from abroad?
Yes. We integrate Bharat Connect so customers can pay electricity, water, gas, broadband, FASTag, loan EMIs and school fees in your app or at your counters, and Indians abroad can pay bills back home through Bharat Connect's cross-border bill payments.
How do state governments use MuffinPay for DBT?
MuffinPay State OS gives a state its own branded citizen wallet. Departments send Direct Benefit Transfer payments to the wallet with purpose rules and live reconciliation, and citizens use it for bills and local spending. States can engage through an MoU, a PPP or a tender. Details are at govt.muffinpay.com.
What is the digital rupee (CBDC) and how do you support it?
The digital rupee (e₹) is India's central bank digital currency, issued by the Reserve Bank of India and distributed through banks. As technology partner to a participating bank, MuffinPay builds programmable e₹ solutions for subsidies, allowances and citizen payments, subject to RBI approval. Details are at cbdc.muffinpay.com.
How do cross-border payments to India work with MuffinPay?
We collect funds in the sender's currency, convert them to USDC, settle over Stellar or the XRP Ledger in seconds, and pay out in rupees over UPI or IMPS. We support INR, AED, USD, GBP, CAD, SGD and USDC, and you can compare the route with a bank wire on this page.
What is stablecoin banking or a cross-border neobank?
It is a business account that holds local currencies and USDC together, with cards and payouts, so you can pay and get paid across borders. We provide it through partners licensed in each market. These digital asset services are not regulated by the RBI and depend on your jurisdiction and KYC. We do not offer yield or lending products.
Can I convert USDC to INR, AED or USD?
Yes. Our OTC desk buys and sells USDC against INR, AED and USD and pays out to your bank account. In India, 1% TDS under Section 194S applies when a resident sells a virtual digital asset.