India’s Suryoday Small Finance Bank established a partnership with Paytm to keep a flame going under Paytm Postpaid on UPI. The newly launched product allows 30 days of interest-free credit and is the cause of investor cheer.

Suryoday Bank-Paytm Partnership Boosts Shares

India’s Suryoday Small Finance Bank has reshaped the digital banking landscape by forming a collaborative partnership with Paytm to provide Paytm Postpaid as a credit line on UPI. This step grants users the ability to get 30 days of interest-free credit, which is a major step in making India’s digital payment system more efficient.

The news was a bang for investors’ ears right away. The price of Suryoday Small Finance Bank (SURYODAY) shares went up 3.3% to Rs. 131.5, indicating the market’s trust in the bank’s creative way. The stock experienced its most powerful upward movement in more than a month, with the number of shares traded reaching more than 18,500, which is 2.2 times the 30-day moving average.

How the Paytm Partnership Works

Suryoday Bank clients are free to perform UPI transactions without immediate settlement thanks to the Paytm Partnership. By having a 30-day credit window, consumers will be able to handle cash flows properly while having smooth transactions. The union magnifies Paytm’s large clientele and Suryoday Bank’s sound financial base, which makes the registration process easier.

Financial sectors detail that such partnerships can not only hugely increase the customer base but also the loyalty of the customers. “The bank is smartly mixing up the convenience of the fintech world with the reliability of traditional banking. The partnership is in all probability the next loud call of the digital wave in India,” opined one of the consulting experts.

Market Impact and Investor Reaction

The turning point for the Suryoday Small Finance Bank, whose stock prices have fallen by around 6% YTD, is immediately followed by the announcement of the Paytm tie-up. By triggering the change in market sentiment, the bank not only shows its openness to innovation but also becomes a safer asset for the investors to bet on.

As the Paytm Partnership positions Suryoday to capture the rising trend of interest in postpaid digital credit solutions in India, investors are thus paying attention to this especially. The analysts are of the view that this action will lead to larger transaction volumes which in turn can bring the bank more fees-based income along with the increased customer loyalty which is a good sign for the long term.

Also Read: RBI Clears Paytm Payments Services – Here’s What Changes Immediately

Broader Implications for India’s Fintech Landscape

The Suryoday Bank Paytm Partnership is an instance of such collaborative ventures between banks and fintech entities to offer credit digitally on a larger scale. As UPI penetration is booming across India, postpaid credit solutions are emerging as an easy option for consumers who choose to go that way.

According to experts, this is a perfect model for small finance banks in India to follow. The cooperation with fintech companies like this not only results in an enhancement of product offerings but also avoids the need for a huge capital expenditure. Besides that, this step can possibly be the reason that your competitors come up with brand new ideas and as a result, the whole digital banking and credit market in India is transformed into something completely new and fabulous.

Risks and Considerations

As the Paytm Partnership has new doors opening, it is still vulnerable to some risks. Compliance with regulations, the possibility of nonpayment by the borrower, and ensuring that customer data is safe are some of the challenges that the Suryoday Bank will have to face. The bank’s boldness and solid digital infrastructure, however, make it seem that they are fully prepared to cope with such situations.

Future Outlook

The new events that place the bank in a favorable position as far as digital is concerned are the Paytm Partnership and the digital adoption trends that follow in its wake. The bank will be able to draw closer to the Indian consumers and thus witness an upsurge of transaction volumes, which will further lead to higher customer engagement and possible revenue growth.

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Indo Gulf Industries Limited from India has announced its unaudited financial results for the first quarter ended on June 30, 2025. The company in the explosives business managed to bring in more sales compared to the corresponding period in the previous year, while operating profit was somewhat affected by the cost increase but overall remained strong.

Indo Gulf Industries Results Q1 FY2025

Indo Gulf Industries Limited of India,a company dealing in the production of industrial explosives, has published its unaudited financial results for the quarter ended June 30, 2025. These results, filed with the BSE, illustrate that even with increasing expenses, the company’s revenues were robust, reflecting its operational resilience in a competitive market.

Revenue and Income Growth

Indo Gulf Industries Results indicated that in the first quarter of the fiscal year 2025, the total income was Rs. 7,005.65 million, whereas it was Rs. 6,292.01 million in the corresponding quarter of the fiscal year 2024. The money earned through the company’s operations alone was Rs. 6,995.50 million, which was achieved from the continuous need for the explosives sector. The other income was quite low at Rs. 10.14 million, which was due to minor inputs beyond the company’s main operations.

Expense Dynamics and Profit Margins

The total expense for the quarter amounted to Rs. 6,726.52 million. The most significant expense item was the use of raw materials which amounted to Rs. 6,170.62 million. Besides that, the company had to bear employee benefits and other management expenses. Still, in the face of these harsh conditions, the company was able to make a profit before tax of Rs. 279.12 million.

The Indo Gulf Industries Results are also noteworthy to mention the net profit amounting to Rs. 104.14 million, which is lower than the Rs. 273.42 million reported in Q1 FY2024. While the company’s profit positions were weakened, the firm was still able to sustain them in the plus range, thus indicating the ability to handle market fluctuations.

Also Read: Indogulf Cropsciences IPO Opens: Apply or Skip?

Comparative Insights

In the last quarter ending March 31, 2025, the company recorded a loss before tax of Rs. 36.19 million, which was mainly caused by increased depreciation and operational expenses. The positive return in the June quarter is a clear indication of both operational efficiency and market demand have improved.

Also Read: Indogulf Cropsciences Gets SEBI Nod for ₹200 Crore IPO

Earnings Per Share (EPS)

The company made an earning of Rs. 1.09 per share (both basic and diluted) during the first quarter of the fiscal year 2025, which is less than Rs. 2.86 recorded in the corresponding quarter of the previous year. It shows that profitability is at the quarter level; however, EPS remained positive, which is a good sign for the stability of shareholder returns.

The industrial explosives sector is the main causality of India’s mining and infrastructure activities. The demand from these sectors will be stable going forward and by targeting such a market, Indo Gulf Industries is in a perfect place to take advantage of the upcoming opportunities. But the increase in raw material prices and the regulatory compliance will be the hurdles towards which the journey to long-term profitability will continue.

Financial Review at a Glance

Outlook 

Although the profit margins have shrunk YoY, Indo Gulf Industries is still holding its ground and has maintained revenue growth. Through the Results of Indo Gulf Industries, we can analyze the situation which is a mix of both potentials and dangers—the company enjoys good demand from the market but it is a must to keep a close eye on the rising costs.

As India is heavily investing in infrastructure and mining projects, the need for explosives is expected to increase, which will provide the company with a chance to make a good medium-term growth. The following quarters will be important to the company to ascertain whether it will be able to keep its margins intact against cost escalation.

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Razorpay allows Indian merchants to use Apple Pay, which means that they can transfer money abroad in a quicker way, get more conversions, and enjoy a smooth global shopping experience.

The Indian fintech ecosystem is changing at a fast pace, and cross-border payment solutions have become a real priority for merchants who want to expand their business beyond the national boundaries. Razorpay, a payment solutions provider based in Bengaluru, has made a move that makes her the leader in the field by implementing Apple Pay for the Indian merchants thus enabling them to have international transactions with no hassle. This association assures the faster completions of the purchases, higher conversions, and simplified payment steps for the global customers.

Razorpay says it is the first online payment aggregator in India to provide Apple Pay for cross-border transactions. What this means is that businesses can now snatch new revenue streams like MOKOBARA, Akasa Air, Pernia’s Pop Up Shop, Sabyasachi, Nish Hair, and the House of Masaba, as they get to tap into the international customer base with no hassle. The global reach of Apple Pay, i.e. over 500 million users, is what makes Apple Pay a crucial weapon for Indian-based merchants who target markets overseas.

How Apple Pay for Indian merchants works is by allowing the customers to finish buying via biometrics with a single click, either Face ID or Touch ID. No OTPs, CVV numbers, or manual card entries are needed. As a result, quick checkout times, user-friendliness, and increased chances of customers coming back for more are all achieved. According to reports, early pilot programs on this integration have demonstrated outstanding performance: 58% upturn in conversion rates, 45% of the checkout process sped up, along with 12% of the average order value growth for Apple Pay users.

Also Read: What Sparked the European Union’s Massive Fines for Apple and Meta?

Cross-Border Payments: India’s New Growth Frontier

The more that Indian businesses set their sights on the global market, the more crucial cross-border payments become in the matter of global competition. Besides that, many merchants also encounter obstacles including currency conversion, complying with local laws, and slow checkout procedures that may result in lower international sales. Razorpay’s incorporation of Apple Pay tackles these obstacles by offering a frictionless experience while adhering to India’s cross-border payment rules.

The decision is being made in line with these and other related phenomena taking place within the fintech ecosystem. The rival PayU, Paytm, and Stripe India have financially helped Indian merchants to easily make international transactions, however, Razorpay stands out by the integration of Apple Pay that brings the global payment norms together with the fast and convenient customer experience. By enabling biometric payments and eliminating all the tedious authentication steps, Razorpay is at the forefront of cross-border payment innovation in India creating a new standard.

Trends Driving Global Payment Adoption

The rise of Indian cross-border e-commerce has been fueled by mobile wallets, app-based payments, and internet penetration that has continued to grow. It is therefore natural that consumers would want various payment methods that would be fast, safe, and seamless while shopping at their favorite foreign stores. Apple Pay from Indian merchants is indeed in concert with those trends, giving an option that is quite familiar to users of worldwide globally recognized payment methods.

On top of everything else, with Apple Pay merchants get not only access to the foreign clientele but also trust and credibility. Global consumers who are familiar with Apple Pay are more likely to finish their purchases if a familiar payment interface awaits them. This is particularly true for the likes of Sabyasachi and the House of Masaba, who are niche luxury brands, and where customer trust and ease of payment are directly correlated with sales.

Also Read: iPhone 17 Price in India and What Buyers Should Know

Razorpay’s International Expansion Strategy

Part of the huge international strategy that Razorpay has is the Apple Pay integration of the company. Fortunately for Singaporean businesses, the third month of the previous year marked Razorpay’s entrance into the Lion City, thus, its second overseas market after Malaysia. Singapore businesses can now utilize Razorpay’s payment gateway, cross-border transaction solutions, and financial analytics tools.

The move is really indicative of the company’s concentration on the Southeast Asian market, which is going through rapid digital payments adoption. In February 2022, Razorpay had made the decision to buy a majority stake in the Malaysia-based fintech, Curlec, and, consequently, the Indian giant had launched its first international payment gateway in July the same year. The Apple Pay integration in India is in line with this international expansion and gives merchants an easy way to bring in global customers without having to deal with complicated payment processes.

Why Apple Pay is a Big Deal for Indian Merchants

There are several reasons why the use of Apple Pay by Indian merchants is a very big deal:

1. Faster Checkout: Biometric authentication cuts down the number of steps, hence, reducing cart abandonment.

2. Higher Conversions: POC (pilot open control program) shows that the number of completed transactions can go up to 58%.

3. Increased Order Value: Smooth payments make customers happy to buy more with one session.

4. Global Reach: Stores may benefit from Apple Pay’s 500+ million users all over the globe.

5. Trust & Security: Customers feel safe using a secure and known payment platform.

What it implies for the Fintech Ecosystem in India

The decision made by Razorpay is a signal of the growing maturity of India’s fintech sector. The nation has turned into a global center for digital payments, and lately, the focus of the solutions has been on the simplification of cross-border transactions. By deciding to implement Apple Pay, Razorpay is giving a signal to the Indian fintech community that there is a window of opportunity for them to establish themselves as leaders in this area.

The experts in fintech are of the opinion that with the increase in the numbers of mobile wallet and digital payment usage, the international payment solutions like Apple Pay will play a crucial role in Muslim Business Ecosystem of India. The merchants who step ahead and adopt these means of payments early not only improvise customer service but also increase their revenue.

Razorpay brought you the info that this announcement was a gradual technological improvement as it represents a commercial move of Indian businesses aspiring to grow abroad. It is this very integration that propels the business from being a local player to becoming global with benefits such as faster checkouts, more conversions, and tapping into a worldwide customer base. Through such moves, further growth in the Southeast Asian market and a focus on cross-border payments is present, showcasing India’s fintech potential and setting a new bar for international trade Firstminister Ultimately, Indian merchants that use the Apple Pay option are not mere payment facilitators but the ones that come up with the smooth, secure, and rewarding experience enjoyed by global customers.

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Unified Payments Interface (UPI) transactions spiraled to 20.01 billion in August 2025, that is 3% more than in July, driven by the festive demand and the deeper digital payment penetration. Nevertheless, the transaction value slightly fell, thus reflecting the changes in consumer spending patterns.

National Payments Corporation of India: Empowering Digital Expansion

National Payments Corporation of India (NPCI) is a Mumbai-based organization that links India’s retail digital payment network. The RBI and IBA jointly supervise NPCI, which runs the platforms such as UPI, IMPS, FASTag, and AePS, etc. These mobile and internet banking platforms can transform India profoundly from being a cash-dependent economy.

UPI Transactions Growth at Record Highs

The increase in UPI transactions in India did not fade away in August and reached as high as 20.01 billion compared to 19.47 billion in July 2025. Volume has grown by 3% month-on-month, with consumption during the festival period acting as the main source of support.

On the other hand, UPI transaction values have gone down by a small extent or 1% and amounted to ₹24.85 trillion in August compared to ₹25.08 trillion in July. 

UPI transactions daily average for August was 645 million, which is slightly higher than 628 million for July; however, the daily transaction value decreased to ₹80,177 crore from ₹80,919 crore, the previous month.

Also Read: Top 5 Insights on Paytm UPI Recurring Payments Growth

Year-on-year UPI volumes have surged by 34%, while transaction values have increased by 21%, indicating that the Indian population’s dependence on digital payments has become stronger in both urban and rural areas.

Festive Demand Spurs UPI Transactions Growth

The start of the festival season is indicated in the increase in volumes for August which typically means higher consumer spending. As the most popular digital payments system, UPI keeps enhancing its penetration among both SME and consumers.

The development signifies, also, the function of UPI as the main vehicle for cashless payments, helping financial inclusion to rise and giving a convenient, safe and immediate payment method.

IMPS Records Weakening Demand

While UPI kept gaining traction, the volume of Immediate Payment Service (IMPS) transactions went lower from one month to the next.

• Transaction numbers fell 2%, from 488 million in July to 477 million in August.

• The total transaction value dropped 6% to ₹5.98 trillion from ₹6.31 trillion.

• On average, daily IMPS numbers of transactions reached 15.50 million, whereas daily values dropped to ₹19,276 crore, compared to ₹20,355 crore in July.

This drop points out that UPI’s supremacy is redefining the landscape of digital payments, steadily gaining over other methods in day-to-day transactions.

FASTag Expands in August

The move to non-cash toll payments via FASTag in India also showed positive signs in August.

• Transaction numbers increased 3% to 382 million, from 371 million in July.

• Transaction value went up by 6% and was ₹7,053 crore.

• On average, daily volumes reached 12.32 million, compared to 11.95 million in July.

• Average daily values also went up to ₹228 crore from ₹215 crore.

Also Read: The UPI Tug of War: Zeta’s Bold Plan to Put Banks Back in the Driver’s Seat

That points to stronger compliance with the government s toll digitization initiative and the rising number of highway commuters who adopt it.

AePS Sees Sharp Growth

The Aadhaar Enabled Payment System (AePS) has made a big jump in August, showing that the system has successfully reached deeply into semi-urban and rural areas of India.

• Transaction numbers rose 24% to 128.17 million, from 103 million in July.

• Transaction values increased 22% and reached ₹32,329 crore, up from ₹26,585 crore.

The expansion of AePS demonstrates its significance as last-mile financial access in the case of citizens who depend on Aadhaar-linked bank accounts for subsidies, withdrawals, and government benefits.

Outlook: UPI Transactions Growth to Stay Strong

Generally, with the festive season at its peak and digital uptake at a rapid pace, the increase of UPI transactions is likely to keep its vigour in the following months.

The growing activation of UPI with credit lines, recurring payments, and cross-border corridors will most likely facilitate transaction values, thus adding up to the already high volume growth.

On the other hand, the data of IMPS, FASTag, and AePS underlines the shifting dynamics of India’s digital payment ecosystem – where UPI remains the frontrunner but the complementary systems continue to play a crucial role in specific territories.

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India’s Paytm has made it clear that UPI payments are fully functional, and only recurring payments need to be updated to new UPI handles. The NPCI-approved change allows for a smooth subscription billing process as Paytm implements the multi-bank model.

Paytm UPI Recurring Payments Change 2025

One of the leading financial services providers in India, Paytm announced that there is no disruption to UPI transactions in India and the recent Google Play alert only pertains to recurring mandates. The company explained that consumer and merchant one-time UPI payments are going on without any problems, while Paytm UPI recurrences like subscriptions will require users to update their handles before the cut-off date, which is August 2025.

What is the Importance of the Update

The clarification was made after Google Play’s recent notification which Paytm described as incomplete and potentially misleading for users. According to Paytm, this change only affects recurring payments linked to services such as YouTube Premium, Google One, or any other platform where automatic subscription billing is activated.

As per the statement of the company, if the users UPI ID was previously in the format abcd@paytm, then it will be changed to new bank-linked handles such as abcd@pthdfc, abcd@ptaxis, abcd@ptyes, or abcd@ptsbi. These stand for HDFC Bank, Axis Bank, Yes Bank, and State Bank of India (SBI).

NPCI Green Light and Multi-Bank Model

The change follows Paytm’s acceptance by the National Payments Corporation of India (NPCI) to become a Third Party Application Provider (TPAP) in the multi-bank model. The switch deepens Paytm’s UPI network by increasing durability, lessening the reliance on one partner, and making sure that recurring payments flow without any breaks.

By engaging several partner banks, Paytm leverages India’s overall desire for UPI scalability and security. This change also serves as a guarantee to customers and merchants that Paytm UPI recurring payments will be dependable and updated.

Also Read: RBI Clears Paytm Payments Services – Here’s What Changes Immediately

Deadline for Recurring Payments

The update has to be done by August 31, 2025. Users are free to make regular payments till that time, but those on subscription billing will have to change their UPI handle to continue their service without interruptions.

To illustrate, a person who has chosen abcd@paytm to pay for a streaming subscription will have to change it to a new handle such as abcd@pthdfc. The routine will then be able to continue without any hiccups.

What Indian Merchants Can Do Now

The thing to remember with consumers is that the normal UPI transactions will not be stopped by this move. Transfers that are done one time only, merchant payments, and P2P transactions may operate as usual. Just subscription billing systems such as OTT platforms, cloud storage services, and premium app subscriptions are disrupted.

On the other hand, merchants, particularly digital platforms that have recurring billing are the ones that will have to do this update on their back end to confirm and accept the new UPI accounts. This is how they ensure that the mandates their customers have given them are still good under the new system.

Financial Expert Insights

Industry commentators point out that this move signals not only regulatory adherence but also sustainability for Paytm’s UPI ecosystem over time. Switching over to a multi-bank model will not only reduce the risk involved in the day-to-day operations but will, at the same time, also allow for there to be continual transactions – which in a digital business, form the most requested payments i.e., a new avenue of revenue. 

Besides, this step reveals how India’s UPI eco-system is reshaping itself with the aid of technology from merely being a fast, safe and secure mode of payment to being a subscription-model champion. They say money drawn on the basis of recurring payment, even if it presently forms only a small part than the total UPI volumes, is a very promising source of fintech platform expansion such as Paytm

Paytm UPI Recurring Payments – What Users Need to Do

• Check your subscriptions: Find out what services you have that directly interact with your Paytm UPI for auto-debits.

• Update the UPI handle: Switch from @paytm to other bank-linked handles like @pthdfc or @ptaxis.

• Meet the deadline: Make sure that the updates you have done are in place before August 31, 2025.

Without performing the above-mentioned activities, users cannot expect uninterrupted recurring services.But streaming, cloud storage, premium subscription, etc. can go on without a glitch if users adhere to these instructions.

India’s UPI Evolution

UPI is an outstanding example of India’s great strides in the field of FinTech, and the UPI journey is now a universal payment infrastructure that goes a long way from the peer to peer transfer mode. It may now be used for paying bills, merchant transactions, investments, and now recurring subscriptions alongside that further.

The fact that more than 10 billion transactions get performed every month, underlining UPIs maturity as the backbone of the digital economy, is the evolution of the UPI system into the subscription billing scenario. UPI is turning out to be the nodal agency for the entire financial system of the country. With the coming of NPCI, public confidence in UPI will reach new heights.

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Jio Payments Bank Saving Pro., an India-based subsidiary of Jio Financial Services, has rolled out news of their innovative Savings Pro launch, the first-ever auto investing savings account in India. The idea is that the product will automatically turn idle money into overnight mutual funds with a goal to achieve higher returns as interest rates come down.

Jio Payment Bank dispensed with the standard savings account to come up with Savings Pro, the first save-account that features auto-investments. These types of savings accounts avert the need for customers to manually invest in short-term debt funds and thereby, receive higher returns on their idle balances than the usual bank savings accounts. It is the beginning of a big step into the payment bank business area, which is traditionally known for small margins and low returns on deposits.

The decision has come at an excellent time as deposit interest rates have gone downhill. From June 3, Jio Payment Bank has slashed its savings account interest rate to 2.50% per annum from 3.50% p.a. until February 2025. The strategy is to attract new customers by turning a revenue problem into an opportunity through auto-investments.

In June this year, Jio Payments Bank was serving a customer base of more than 2.5 million (25 lakh) accounts and had a deposit base of over USD 43 million (₹358 crore). Indian payments banks are allowed to take deposits only up to a limit of ₹2 lakh per customer. This regulation constrains them from offering savings products with the traditional banking model of increased deposits and interest rate growth.

This is a very clever move to signify the change in the business model and transition with the evolving landscape but nonetheless, the question remains, why would this be so attractive to a consumer?

Also Read: Jio Financial’s Latest Acquisition Reshapes India’s Banking Industry

The first question that will come to the customer’s mind is: what is Savings Pro?

The answer will be along these lines — Savings Pro is a savings account combined with an auto-invest feature. It will help investors to have one consolidated savings account and at the same time will offer them the best overnight funds in the country to deposit spatially idle money.

Strategic Diversification for Sustainable Growth

CEO, Hitesh Sethia, pointed out that the company continues to consider diversifying the sources of income, a strategic move of paramount importance. Apart from Savings Pro, the bank is also centered on the likes of Aadhaar-enabled payments, domestic money transfers, and B2B UPI transactions. All these services are contributing to the bank to reach its goal of generating additional fee-based income.

In addition, Jio Payments Bank was selected by the National Highways Authority of India (NHAI) as an acquirer bank for the Toll processing with the authority to operate five National Highway toll plazas. The agency is developing its portfolio of B2B services and will be attracting a considerable amount of the transactions in India's digital payments ecosystem as a result of this move.

Market Impact and Shareholder Response

At the Annual General Meeting, Sethia described that none of the businesses under the umbrella of Jio Financial Services are at an ideal stage of the lifecycle, they all are lopsided in different directions; the main focus is how they are going to be profitable in the long run. On the BSE, the shares of Jio Financial Services’ finished at ₹310.10 which is lower by ₹5.65 or 1.79%, showing the cautiousness of the market amid the overall instability.

Still, according to the scholars, the arrival of such a product as Savings Pro may well be considered as trailblazing and could bring to light a complete new perspective of payments banks in India. By connecting savings with investment, the bank could see more prolonged patronage and higher engagement.

Industry Context: A First for India

It is a pioneering mutual fund investing savings account aggressively in India.Where traditional banks may provide linked investment products, none have seamless automatic investing of idle funds into overnight mutual funds at payments bank level.

The gesture not only benefits the depositors with easier returns, but it also facilitates the part of Jio Payments Bank where it charges asset management linkages. For India’s rapidly digitizing financial landscape, this could signify a new era of the banking sector crossing the divide between banking and investments.

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As fintech giants like Google Pay and PhonePe capture customer engagement, banks risk becoming invisible in India’s booming UPI economy. Fintech unicorn Zeta has released a blueprint offering 10 product-led innovations to help banks reclaim customer mindshare and monetise UPI transactions.

Zeta Services Inc., a SoftBank and Mastercard-backed fintech unicorn headquartered in Mumbai, India, operates in the banking technology and payments sector. The company provides cloud-native banking platforms, credit processing systems, and embedded finance solutions designed to modernize traditional banking infrastructure.

With Unified Payments Interface (UPI) emerging as India’s leading digital payments channel, banks have increasingly found themselves reduced to passive infrastructure providers. While they shoulder the costs of maintaining rails, platforms like Google Pay (GPay) and PhonePe capture customer loyalty, data, and monetisation opportunities.

In its new eBook, Reimagining UPI for Banks, Zeta has presented a 10-point roadmap aimed at helping banks transform UPI into a growth engine rather than just a payment switch. These innovations include:

• Smart UPI wallets
  
• Add-on UPI IDs
  
• Contextual “credit-on-tap”
  
• Merchant cash flow-based lending
  

According to Mehul Mistry, Global Head – Strategy & Products at Zeta, banks already hold trust, capital, and infrastructure but lack product imagination. The report calls on them to evolve from back-end providers to front-end experience owners in the digital financial ecosystem.

Data insights support this shift. Customers using RuPay credit cards linked to UPI recorded nearly three times more transactions (17–18 monthly) compared to traditional credit card users (5–6 monthly). Zeta believes this demonstrates the untapped potential for banks to integrate UPI natively into their own apps, layered with rewards, controls, and onboarding features.

Crucially, banks are losing access to the behavioural data generated through UPI, which fintech apps currently harness to drive product innovation, customer stickiness, and cross-selling. “Banks treat UPI as a switch, but it’s a goldmine of behavioural insights,” Mistry noted, adding that proper utilisation could reshape customer engagement.

Zeta is already collaborating with the country’s top four private banks, including HDFC Bank and ICICI Bank, and is powering the revamped HDFC PayZapp platform. These partnerships underline a growing recognition among banks that UPI must be repositioned as a strategic channel for revenue and customer loyalty.

The broader message is clear: UPI is no longer just a backend utility—it is the frontline of financial engagement. The next phase of competition in digital payments will not be determined by who owns the rails but by who controls the customer experience.

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NPCI will stop UPI P2P collect requests from October 1, 2025, to prevent fraud, while merchant collect requests remain functional and UPI split payments provide a secure alternative.

India’s National Payments Corporation of India (NPCI) has directed banks and payment apps to stop all person-to-person (P2P) “collect requests” via the Unified Payments Interface (UPI) from October 1, 2025, in a move aimed at curbing financial fraud. The decision will discontinue the facility that allows a user to request money from another subscriber, commonly misused by fraudsters to trick users into authorizing payments.

Currently, UPI P2P collect transactions are capped at ₹2,000 per request, with a maximum of 50 successful credits per user per day. While these peer-to-peer collect requests will be discontinued, merchants can continue to use the feature for payments. Platforms like Flipkart, Amazon India, Swiggy, and IRCTC rely on merchant collect requests, which are processed only after the user approves and enters the UPI PIN.

Also Read: Fintechs Under Fire as Banks Introduce Transaction Charges

The move comes after NPCI observed that fraud cases associated with P2P collect requests, though reduced following transaction limits, remain a concern. The feature, initially designed for splitting bills among friends or reminding relatives of owed amounts, will now be replaced by alternative solutions such as UPI’s split payment option.

UPI remains India’s leading digital payments platform, processing nearly 20 billion transactions monthly, valued at approximately ₹25 lakh crore, and serving around 40 crore unique users. Analysts say the step is likely to enhance overall user safety while encouraging more structured and secure merchant transactions in India’s fast-growing digital payment ecosystem.

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The Reserve Bank of India has granted in-principle approval to Paytm Payments Services Ltd., enabling it to operate as an Online Payment Aggregator under the Payment and Settlement Systems Act, 2007. The move is expected to enhance India’s digital payment ecosystem and strengthen compliance standards.

The Reserve Bank of India (RBI) has granted in-principle authorisation to Paytm Payments Services Ltd. (PPSL), a wholly-owned subsidiary of One 97 Communications Ltd., to operate as an Online Payment Aggregator under the Payment and Settlement Systems Act, 2007.

In a filing to the exchanges, One 97 Communications stated that the RBI’s approval, dated August 12, 2025, allows PPSL to manage online aggregator operations within the regulatory framework. The authorisation, however, is limited to online payment aggregation and does not extend to offline or other payment activities beyond the current guidelines.

Financial and Regulatory Significance

Industry experts note that the approval reinforces RBI’s structured approach to regulating India’s rapidly expanding digital payments landscape. With the online payments market projected to grow at double-digit rates annually, this licence positions PPSL to capture a larger share of merchant payment processing volumes while ensuring adherence to stringent compliance protocols.

Also Read: Understanding Paytm’s 2.9% Equity Shift in Latest Block Deal

Analysts further highlight that RBI’s step reflects its broader strategy of strengthening oversight on payment intermediaries, ensuring operational resilience, and protecting consumer interests. For PPSL, the in-principle nod also provides an opportunity to enhance merchant onboarding capabilities, improve transaction security, and innovate value-added services in alignment with evolving market demands.

This development is seen as part of India’s ongoing push to formalise and consolidate the digital payments ecosystem under a unified, regulated structure, thereby balancing innovation with systemic stability.

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Read the full article here: RBI Clears Paytm Payments Services – Here’s What Changes Immediately — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

Bank of Baroda has launched enhanced features for its bob e-Pay app, enabling global UPI acceptance, instant inward remittances from Singapore, and NRI-focused UPI services. The upgrade aims to strengthen the bank’s digital payment capabilities and support international transactions directly from Indian bank accounts.

Bank of Baroda, one of India’s largest state-owned financial institutions headquartered in Vadodara, Gujarat, has announced a major upgrade to its Unified Payments Interface (UPI) application — bob इ Pay, also called bob e-Pay. Operating in the banking and financial services sector, the bank offers a comprehensive range of retail, corporate, and international banking solutions.

On August 11, 2025, the bank introduced three international features to its UPI platform: UPI Global Acceptance, Foreign Inward Remittances, and UPI Services for Non-Resident Indians (NRIs) and Indian nationals travelling abroad. This move expands the app’s capabilities beyond domestic transactions, offering secure, real-time cross-border payment options.

1. UPI Global Acceptance

bob e-Pay users can now make QR code-based payments to international merchants, with amounts debited directly from their Indian bank accounts. This service is currently accepted in Mauritius, Singapore, UAE, USA, France, Sri Lanka, Nepal, and Bhutan.
During transactions, users will see amounts displayed in both the foreign and Indian currencies, along with live exchange rates and applicable charges, ensuring full transparency.

Also Read: Bank of Baroda Unveils bob FxOne, Ushering in a New Era of Digital Forex

2. Foreign Inward Remittances from Singapore

The app now supports 24/7 instant remittances from Singapore residents for purposes such as family maintenance. Senders can initiate transfers in Singapore Dollars (SGD), with beneficiaries in India receiving funds in Indian Rupees (INR) directly into their UPI-linked accounts.

3. NRI UPI Services

NRI customers can link their NRE/NRO accounts to bob e-Pay using an Indian mobile number during their visits to India. They can make merchant payments or peer-to-peer transfers through UPI, just like domestic users.

The daily transaction limit for all international UPI services is set at ₹1,00,000, in line with domestic UPI rules. The bob e-Pay app is available for download on both the Google Play Store and Apple App Store.

According to Sanjay Mudaliar, Executive Director at Bank of Baroda, this expansion reflects the bank’s commitment to building innovative and customer-focused digital banking solutions while aligning with India’s growing role in global digital payments.

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Read the full article here: From Mumbai to Mauritius: Bank of Baroda’s UPI App Gets Global — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).