FinTech Unicorn Zeta Unveils Innovative Solution for Banks Enabling Seamless Credit Transactions On UPI

Zeta is a financial technology company focused on revolutionizing payments through core-to-edge innovations. Offering products like the Tachyon Suite for banks with mobile apps and modular platform capabilities, Zeta also provides consulting services for optimized retail portfolio management. For fintechs, Zeta’s Fusion Suite offers APIs and SDKs for embedding financial products, backed by extensive API documentation. Led by CEO Bhavin Turakhia and CTO Ramki Gaddipati, Zeta’s vision centers on invisible payments with its Omni Stack solution, aiming to make transactions seamless and frictionless globally.

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Zeta, a fresh-faced fintech startup, has just pulled back the curtain on a brand-new system designed to facilitate credit line-based transactions on the Unified Payments Interface (UPI). Their goal? To shake up the way credit is distributed in India’s bustling fintech scene.

Bhavin Turakhia, co-founder of Zeta, foresees credit disbursements via UPI soaring to a trillion dollars by 2030. Zeta aims to grasp 50% of this expansive market opportunity.

Turakhia highlighted, “The surge of UPI underscores that every credit avenue, spanning from consumer loans to personal loans and EMI loans, will gravitate towards UPI eventually. Our goal is to facilitate all such transactions seamlessly, employing a distinctive and user-friendly approach, conveyed in straightforward English.

Supported by investments from SoftBank, Sodexo, and Mastercard, Zeta is poised to revolutionize banking operations as a leading technology service provider (TSP). Through its innovative digital credit-as-a-service platform, Zeta empowers banks to efficiently introduce a variety of credit offerings, ranging from consumer loans to personal loans.

Zeta’s comprehensive suite of tools allows banks to concentrate on key aspects like customer acquisition and underwriting, while entrusting crucial functions such as customer origination, lifecycle management, analytics, and experience enhancement to the fintech expert.

According to Ramki Gaddipati, Zeta’s co-founder and CTO, “Our platform seamlessly manages the entire customer journey and interaction with the bank, ensuring a completely unique and user-friendly experience.”

Over 160 million Indians are still left without proper access to traditional credit services. Zeta’s latest technology taps into the Credit Line on UPI initiative by the National Payments Corporation of India. This means folks can now easily get credit whenever they need it through any PSP payment app. It’s like having a digital piggy bank, letting people borrow exactly what they require, precisely when they need it.

Gaddipati stressed how important it is for banks to gear up for the rapid increase in credit line transactions on UPI. “Just like we’ve seen UPI transactions strain banking systems, we’re expecting the same with Credit Line on UPI soon. That’s why we need banking systems that can handle such large-scale operations, serving the entire population,” he explained.

Zeta’s Digital Credit-as-a-Service brings a range of loan options (EMI, merchant, agricultural) along with ready-made compliance solutions, regulatory reporting tools, and expert consulting. It integrates smoothly with a bank’s current setup, reducing any operational hiccups.

“This is a chance to revolutionize credit accessibility in India,” exclaimed Gaddipati. “Credit Line on UPI transforms how people discover, access, and manage the costs of retail loans,” he added, emphasizing its simplicity and uniqueness in plain language.

Zeta has poured more than $360 million into crafting a cutting-edge banking platform. Their goal? To revolutionize global banking tech by swapping out outdated systems for sleek, adaptable infrastructure. Right now, Zeta is the muscle behind millions of payment cards for major card issuers in six countries.

Zeta, an innovative fintech startup, aims to disrupt India’s credit ecosystem by introducing a cutting-edge system for credit line transactions on the UPI. Co-founder Turakhia envisions a trillion-dollar UPI credit disbursement by 2030, with Zeta targeting a significant market share. Backed by industry heavyweights like SoftBank, Zeta’s digital credit platform empowers banks to offer diverse credit products efficiently. Their technology addresses financial inclusion gaps, particularly for the 160 million underserved Indians, while emphasizing the importance of banks preparing for the imminent surge in UPI credit transactions through seamless digital solutions.