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The alliance will aid banks and credit issuers to use their existing infrastructure and customer data to offer UPI-based credit products. Credit: Rahbar stock/Shutterstock.
Indian banking and payment solutions provider NPST has joined forces with Hyperface, Credit Cards as a Service (CCaaS) platform, to enable banks and credit issuers to offer embedded credit solutions via UPI.
This collaboration aims to expand instant credit access by integrating UPI-based credit offerings.
NPST noted that with credit card penetration in India at around 100 million compared to over 400 million UPI users, the partnership aims to bridge this gap through a digital-first credit solution.
The alliance will aid banks and credit issuers to use their existing infrastructure and customer data to offer UPI-based credit products.
Eligible users will have access to pre-approved credit lines at the point of sale, allowing them to make purchases and opt for instalment-based payments.
Merchants may benefit from increased sales, larger transaction values, and improved customer retention, the company said.
NPST co-founder and CEO Deepak Chand Thakur said: “We are proud to partner with Hyperface to democratise access to credit through UPI. As consumer expectations evolve, this collaboration positions banks to meet those needs with agility – driving customer satisfaction, boosting transaction volumes, and creating new revenue streams through interchange fees.
“Together, we’re not just transforming credit; we’re shaping the future of embedded finance in India.”
As part of the partnership, NPST will integrate its UPI switch technology with Hyperface’s Embedded Banking Platform.
Hyperface’s Credit Management Engine, which is modular and “flexible”, enables banks to develop and deploy UPI-based credit line products efficiently while maintaining scalability.
The solution includes tools for customer risk assessment, real-time business insights, and compliance management.
Hyperface co-founder and CEO Ramanathan RV said: “Hyperface’s advanced Credit Management Platform, combined with NPST’s proven expertise in UPI technology, creates a powerful synergy that will enable banks to build, rapidly deploy and scale innovative credit solutions for tailored customer segments.”
In February 2024, NPST secured a contract for its Online Dispute Resolution (ODR) solution from DCB Bank.
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