Leading payments solution provider, PayU, has unveiled a strategic collaboration with the National Payments Corporation of India (NPCI) to launch the ‘Credit Lines on UPI’ feature on its platform. This initiative aims to unlock new avenues for financial security and growth for merchants. Through the facilitation of pre-sanctioned Credit Lines by banks using UPI, PayU envisions empowering both businesses and consumers, aligning with India’s financial inclusion agenda. By sharing information on relevant identifiers associated with consumer credit, including pay-later options and personal loans, PayU facilitates the development of strategic growth strategies for merchants, enabling the creation of customized products for an enhanced customer experience.
With an optimistic outlook, the company anticipates that more than 380 million UPI users will benefit from streamlined access to Credit Lines, marking the next significant stride in digital payments evolution towards credit. PayU, renowned for offering a diverse range of over 100 local digital payment methods, value-added data insight solutions, and affordability solutions across offline and online channels, has established partnerships with nearly five lakh merchants, serving as the preferred payments partner for almost 60% of e-commerce merchants.
