Vegapay is thrilled to announce a strategic partnership with YES BANK, one of the largest private-sector banks in India, to launch its hyper-configurable ‘Credit Line on UPI’ platform.
There are only a few truly transformative moments in our lifetimes.
For the banking industry in India (and beyond), this is one of them.
Introducing Credit Line on UPI (CLOU).
This is not just an iteration; it’s a reformation.
Traditional credit is slow, costly, and difficult to access, especially in rural regions. Outdated manual processes make it expensive, leaving small borrowers underserved. Banks also face challenges with limited data, making it tough to evaluate new or low-credit customers.
Enter UPI—the game-changing payments system developed by our beloved
National Payments Corporation Of India (NPCI). With over 14 billion transactions every month, UPI has created a vast digital footprint of spending patterns for millions of Indians who were previously excluded from the formal financial system.
This is where the revolution began.
For the first time, lenders can see how Indians earn, spend, and save. Every UPI transaction paints a financial picture—a picture that can be used to assess creditworthiness without relying on traditional credit histories. This is digital trust at a scale of over a billion people.
Imagine a world where accessing credit is as simple as using your smartphone. With credit lines powered by UPI data, there’s no need for plastic cards or piles of paperwork. Instead, you get instant, adaptive access to credit that grows and adapts with you in real-time. It’s available to anyone—even those without a traditional credit score.
This isn’t just a new way to finance—it’s a step toward economic empowerment for millions.
Vegapay thanks YES BANK for their trust in our Credit Line on UPI stack.
YES BANK National Payments Corporation Of India (NPCI) Vegapay Dr. Rajan Pental Nalin Bansal Gaurav Mittal
https://lnkd.in/gmMyXJvZ
