86400, an initiative by Mobileware Technologies, in partnership with Vegapay, has unveiled its latest innovation: the Credit Line on UPI platform.
This new infrastructure is designed to enable banks and FinTechs to seamlessly extend credit through the Unified Payments Interface (UPI), bridging a major gap in the country’s financial services landscape.
UPI currently facilitates over 14 billion transactions each month, accounting for more than 75 per cent of all retail digital payments in India. Yet, less than 4 per cent of the population holds a credit card, leaving a vast majority without access to affordable, formal credit.
The newly launched platform directly addresses this issue by embedding flexible credit lines within UPI, allowing millions of underserved individuals to access credit through the same digital ecosystem they already use daily.
The Credit Line on UPI platform combines 86400’s high-throughput UPI infrastructure with Vegapay’s robust Credit Line Management System (CLMS). This integrated, API-first stack allows banks and non-banking financial companies (NBFCs) to go live in a matter of days rather than weeks, while ensuring compliance with the Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI) regulations.
Unlike traditional credit cards, which are limited by stringent eligibility criteria and higher costs, this solution empowers users with instant access to affordable, flexible lines of credit, usable at any UPI-enabled merchant. By doing so, it aims to transform credit from an exclusive privilege into a widely accessible financial utility.
The platform has been designed with security and scalability at its core. It is built on a cloud-native architecture, incorporating automated compliance workflows, tokenisation, bank-grade encryption, and multi-layer fraud detection systems. This ensures not only rapid deployment but also robust data security and regulatory alignment.
Suryoday Small Finance Bank has become the first institution to go live on the platform. Several other banks, NBFCs, and fintech firms are reportedly in advanced discussions to adopt the solution in the coming months.
Satyajit Kanekar, Founder and CEO of 86400, remarked, “India’s credit penetration remains among the lowest globally, with fewer than 40 million credit cards serving a population of 1.4 billion. With UPI now the backbone of digital payments, embedding credit directly into this framework marks a structural leap. The Credit Line on UPI platform ensures credit becomes a universally available utility, rather than a product reserved for a privileged few. This is the foundation for genuine financial inclusion.”
Gaurav Mittal, Co-Founder and CEO of Vegapay, added, “At Vegapay, our mission has always been to provide the technology backbone for institutions to deliver credit that keeps pace with India’s digital growth. This collaboration with 86400 gives banks and fintechs a platform that is not only scalable and secure but also fully compliant from day one.”
Vishal Singh, CIO of Suryoday Small Finance Bank, commented, “Our customers remain at the heart of our innovation strategy. This platform allows us to extend flexible, affordable credit via a channel they already trust – UPI. It’s a major step forward in our mission to deliver responsible, technology-led financial solutions.”
Looking ahead, credit lines on UPI are expected to emerge as a compelling alternative to traditional credit cards and Buy Now Pay Later (BNPL) models. Planned enhancements include features like EMI conversion, flexible repayment terms, and integration with other value-added financial services.
With this initiative, 86400 and Vegapay reaffirm their commitment to building future-ready digital financial infrastructure – a move that promises to democratise access to credit and empower millions of Indians with financial choice and flexibility.
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