Mumbai, October 01, 2025: 86400 (An initiative by Mobileware Technologies), a leading provider of digital payment infrastructure, in collaboration with Vegapay, today announced the launch of its Credit Line on UPI platform, built to enable banks and fintechs to deliver credit seamlessly over UPI.
The launch comes at a pivotal time. UPI currently processes over 14 billion transactions monthly, accounting for more than 75% of India’s retail digital payments. Despite this growth, fewer than 4% of Indians own a credit card, leaving millions without access to affordable, formal credit. By powering credit lines on UPI, 86400 (An initiative of Mobileware Technologies) enables banks and fintechs to extend inclusive, low-cost, and accessible credit for a wider population.
Addressing the Industry Gaps
The Credit Line on UPI platform combines 86400’s high-throughput UPI infrastructure with Vegapay’s Credit Line Management System (CLMS), creating a single, integrated stack for banks and NBFCs. This innovation reduces integration timelines from weeks to days, while ensuring full compliance with RBI and NPCI guidelines.
For customers, it provides instant access to flexible lines of credit that can be used at any merchant accepting UPI. Unlike traditional credit cards, which are limited by eligibility and cost structures, this platform broadens access to credit for underserved segments, furthering India’s financial inclusion agenda.
Compliance, Security, and Scalability
The system is built on a cloud-native, API-first architecture, enabling banks and fintechs of all sizes to scale rapidly. Automated compliance checks, tokenization, bank-grade encryption, and multi-layer fraud detection are embedded within the workflow, ensuring security and regulatory alignment.
Suryoday Bank has become the first financial institution to go live on the platform, with discussions underway with multiple other banks, NBFCs, and fintech distribution partners.
Satyajit Kanekar, Founder & CEO, 86400, said:
“India’s credit penetration remains among the lowest in the world, with fewer than 40 million credit cards serving a population of 1.4 billion. With UPI becoming the backbone of digital transactions, embedding credit lines directly into this ecosystem represents a structural leap forward. The Credit Line on UPI platform ensures that access to affordable credit is no longer the privilege of a few but a universally available utility. This is the foundation of true financial inclusion.”Gaurav Mittal, Co-Founder & CEO, Vegapay added:
“At Vegapay our focus has always been to equip financial institutions with the infrastructure to deliver credit that keeps pace with India’s growing digital economy. The partnership with 86400 provides a platform to the banks and fintechs that is compliance ready, scalable and allows them to bring credit line onto UPI with speed and reliability.”Vishal Singh, CIO, Suryoday Small Finance Bank also added:
“Our customers are at the core of every innovation we pursue, and our goal is always to provide them with solutions that are simple, transparent, and trustworthy. Credit Line on UPI allows us to extend flexible and affordable credit in the same seamless way that customers already experience UPI payments. This initiative is an important milestone for Suryoday Small Finance Bank as we continue to expand the reach of responsible credit through digital innovation”
Looking Ahead
Credit lines on UPI are expected to emerge as a mainstream alternative to credit cards and BNPL models. As adoption expands, additional features such as EMI conversion, flexible repayment options, and integration with value-added financial services will be introduced.
With the Credit Line on UPI platform, 86400 and Vegapay reaffirm their commitment to building future-ready financial infrastructure that empowers institutions and democratizes credit access for millions of Indians.