ZET, a fintech company focusing on credit products, has secured approval from the National Payments Corporation of India (NPCI) to function as a third-party application provider (TPAP) within the Unified Payments Interface (UPI) system.
This regulatory clearance paves the way for ZET’s launch of a new payment service, ZET UPI, which permits its users to make UPI payments using RuPay credit cards issued via its platform.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The move enables customers to use their credit cards for everyday transactions commonly completed through UPI, rather than being restricted to standard card-based purchases, according to CNBCTV18.
ZET co-founder Yash Desai was quoted by ETBFSI saying: “Our focus is to meet users where they already are and help them build healthy credit habits without changing how they pay. ZET UPI is designed to fit naturally into daily life while supporting a disciplined and transparent credit journey.”
The company said that its new feature utilises the RuPay UPI-on-credit-card framework, which allows UPI transactions to be processed through a credit facility instead of drawing funds directly from a bank account.
The payment infrastructure relies on technology from Juspay and is supported by RBL Bank as the banking partner.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataUnder this arrangement, holders of ZET credit cards who have active subscription plans will have access to cashback incentives on their UPI payments, in addition to any existing card rewards.
ZET’s platform centres on secured credit cards and aims to support users with little or no established credit history by providing opportunities to build their credit scores through consistent usage and timely repayments.
The Economic Times reported that, ZET expects that transactions conducted through UPI using credit cards on its platform could reach approximately Rs 1bn per month.
The company reports an eligible user base of around one million, with about three-quarters being first-time credit cardholders.
