Banking technology provider Zeta has announced its partnership with HDFC Bank in order to provide its Credit Line on OPI (CLOU) offering to customers. Following this announcement, the Credit Line on UPI (CLOU) will enable banks and financial institutions to link pre-approved credit lines directly and safely to a user’s UPI account, facilitating payments and transactions through this credit facility.

In the process of making a purchase, users will have the possibility to select the linked credit line as their payment method via UPI. In addition, both financial institutions are set to continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well. More information on the announcement The partnership is set to utilise Zeta’s Digital Credit-as-a-Service (DCaaS) solution in order to optimise the way HDFC Bank launches credit products and services on NPCI’s CLOU scheme.

Interest is charged only on the utilised amount, with the repayment terms being similar to those of a credit card. The association with Zeta includes the process of working together on PayZapp, the bank’s application, as its acceptance continues to grow rapidly. CLOU represents a credit solution that is expected to provide its capabilities across the entire credit distribution lifecycle, as well as spanning underwriting, distribution, origination, usage, repayments, collections, and more.

Zeta’s solution has been carefully designed as a UPI-first, mobile-first, and cloud-native credit products ecosystem. At the same time, Zeta’s DCaaS is a fully managed, ready-to-deploy solution that was developed in order to support rapid launches of credit products within six months. This offers a catalog of over a dozen products and tools for retail and SME lending.

Throughout this partnership, Zeta will provide HDFC Bank with a comprehensive and secure technology stack and managed tools, including consulting, engineering, and operations, as well as customer support. .