UPI Just Got Smarter, Credit Access Now Just a Tap Away for Millions in India
86400 and Vegapay launch Credit Line on UPI to boost access to digital credit across India.
In a move set to redefine India’s digital payments ecosystem, 86400 (an initiative by Mobileware Technologies) and fintech innovator Vegapay have introduced a new Credit Line on UPI platform, unlocking seamless access to credit directly within the country’s most trusted payment system.
The platform arrives at a critical juncture when UPI accounts for more than 75 percent of India’s retail digital payments, processing over 14 billion transactions monthly. Yet fewer than 4 percent of Indians own a credit card, spotlighting a vast gap in access to formal credit. With this new integration, banks, NBFCs, and fintechs can offer flexible and low-cost credit lines to consumers and small businesses—all via UPI.
At the core of the solution is a powerful combination of 86400’s high-throughput UPI infrastructure and Vegapay’s Credit Line Management System (CLMS), creating an end-to-end, compliance-ready platform. The implementation streamlines integration, reducing launch timelines from weeks to days, while embedding robust guardrails such as tokenization, end-to-end encryption, automated compliance checks, and multi-layer fraud detection.
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Suryoday Small Finance Bank has already become the first partner to go live on the platform, with multiple collaborations underway across leading banks, NBFCs, and fintech partners. “Embedding credit directly into UPI represents a structural leap forward. Affordable credit should no longer be the privilege of a few but a universally accessible utility,” said Satyajit Kanekar, Founder & CEO of 86400.
Vegapay’s Co-Founder & CEO, Gaurav Mittal, emphasized scalability and speed, highlighting the platform’s ability to empower financial institutions with compliant, future-ready credit infrastructure. Vishal Singh, CIO of Suryoday Bank, added that the initiative enables them to extend credit with the same simplicity and transparency that customers already associate with UPI payments.
Looking ahead, the Credit Line on UPI is expected to become a mainstream alternative to credit cards and Buy Now Pay Later (BNPL) models. Upcoming enhancements include EMI conversion options, flexible repayment features, and integrations with value-added financial services—further fueling India’s financial inclusion journey.
With this launch, 86400 and Vegapay cement their role at the forefront of building scalable, secure, and inclusive digital infrastructure, opening the doors to affordable credit for millions across India.
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