Tamilnad Mercantile Bank (TMB), one of India’s most trusted private sector banks, has announced a strategic engagement with Rugr FinTech Private Limited as a referral partner to source Reserve Bank of India (RBI)-licensed Payment Aggregators for UPI merchant collections. The move marks another step in TMB’s broader push to deepen its digital payments capabilities while maintaining strong regulatory compliance.
As part of the initiative, TMB will leverage its Hosted UPI Switch – TechFini, procured from Fin Meadows Technologies Pvt. Ltd.. The platform is designed to offer a secure, scalable and compliant UPI acquiring infrastructure, enabling smoother routing and processing of merchant transactions across the UPI ecosystem.
Through this partnership, regulated Payment Aggregators and Payment Gateways will be able to route UPI transactions via TMB’s infrastructure. This is expected to improve transaction success rates, enhance system reliability, and ensure adherence to RBI guidelines governing digital payments and merchant acquiring.
For Tamilnad Mercantile Bank, the collaboration strengthens its role as a trusted acquiring bank in the fast-growing UPI payments space. By working with a fintech referral partner like Rugr, TMB aims to expand its reach among compliant Payment Aggregators while continuing to offer robust, bank-grade infrastructure for high-volume merchant collections.
