CotoPay launches India's First e-RUPI Voucher Issuance Stack for Businesses

VMPL

New Delhi [India], October 10: CotoPay powered by NPCI's e-RUPI platform, CotoPay is here to reimagine expense management for businesses with UPI Vouchers!

CotoPay has officially launched its platform to onboard businesses to manage their expenses by leveraging the existing UPI ecosystem. UPI, India's most trusted and widely used digital payment method, had not seen the same scale for business spends as it has for business payment acceptance. With CotoPay's solution, businesses and their employees can now enjoy the same ease for business spends as they do for personal spends.

Issuance & Redemption of UPI Vouchers in real-time

UPI Vouchers can be issued by businesses to a particular person and can be locked for a specific purpose to ensure that the money is used for the intended benefit. All this without changing the existing payment behaviours of users, empowering them to pay for their corporate expenses at the 6.5 Cr strong UPI merchants in India.

Users discover these UPI Vouchers on their existing UPI apps such as Google Pay, bob i Pay and BHIM to begin with. They need not change how they pay currently from their UPI apps. Scan a merchant's physical UPI QR Code or dynamic QR code on POS machines and select your UPI Voucher as the payment method instead of the existing bank account.

Businesses want control and visibility while end users want convenience!

Once your business is onboarded to the CotoPay platform, you can add your employees and contractors, and start issuing UPI Vouchers to their mobile number linked with their UPI apps. These UPI Vouchers can be locked at categories such as Meal & Food, Travel and Fuel or can be issued for Generic Spends as well.

These UPI Vouchers will only show as a payment method if the merchant's category code (MCC) matches the category of the voucher that has been issued. They are also non-transferrable and can only be paid on official merchant-linked bank accounts.

The money that is non-utilised is automatically refunded to the business. CotoPay's dashboard gives issuers complete visibility on the nature of spends done along with the merchant's name, time, date and value of spends.

Corporates and Fleets have started using these Vouchers

CotoPay is onboarding corporates and fleets to enable locked spends for either an employee's operational expenses or a driver's fuel expense. Be it advances and reimbursements for a corporate or fuel expense management for a fleet, CotoPay's UPI Vouchers is a seamless payment solution empowering all stakeholders.

"All of us Indians trust UPI for all of our day-to-day personal spends but are still stuck with cash, prepaid cards or wallets for our business spends. With CotoPay, now corporates and fleets have the option to lock expenses at a category level, while still giving the flexibility and convenience to the users to pay using their existing UPI apps" said Vidit Sidana, Co-Founder & Chief Business Officer, CotoPay.

UPI is here to stay

With 20 billion transactions happening on UPI in August'25, UPI has truly changed how all of us pay digitally. There is no better time than right now to continuously innovate and leverage the existing UPI behaviour for both users and merchants. Countering the problem of tedious expense cards and reimbursements, these UPI Vouchers solve businesses problems and much more!

No matter the industry or size of your organization, spends are done across the spectrum and it is not possible to do all of these spends through cards, be it credit or prepaid cards issued by an organization.

Secure, cashless solution for businesses of all sizes across industries

CotoPay wants to provide a seamless platform to businesses that lets them maintain control over issuance and also helps in automatic digital reconciliations.

"Our existing team was a part of the initial team at National Health Authority (NHA), Government of India, that had helped developed eRUPI with NPCI. The solutions NHA helped develop with eRUPI are now being used by various national and state government departments for welfare and subsidy disbursements. Since these vouchers can be locked for a specific purpose, it helped in ensuring that the spend is happening for the intended benefit only." said Aviral Gupta, Co-Founder & CEO, CotoPay.

And now, CotoPay is working on the private side to manage spends across all full-time as well as part-time workers for a business. e-RUPI based UPI Vouchers is the future for targeted spends and CotoPay wants to work with businesses to manage their spends as seamlessly as one's personal UPI spends!

About the Team

CotoPay, a brand of Cotodel Technologies Private Limited, has been founded by a team that understands the consumer's problem statements and has the right skill-set to address it with robust experiences being a part of founding teams of unicorn startups, running national brands at top FMCG cos, and building population-scale technology platforms for the government. The Founders have also secured institutional funding from the investors of Rapido, Jar and Park and are bringing the solution to market with ICICI Bank.

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