Yes Bank partners with Vegapay to provide credit line on UPI
Yes Bank has announced a partnership with Vegapay, a technology innovator in the banking software industry, to launch a hyper-configurable platform called ‘Credit Line on UPI’, Vegapay said in a press release.
Yes Bank, through the platform can create customised credit programmes that suit customers' needs. The bank can decide whether to offer interest-free or interest-bearing credit, whether or not allow customers to pay in installments (EMIs), and set up rules for different situations through an easy-to-use interface.
The platform includes a user-friendly dashboard and a customisable app, making it simple for banks to integrate with their existing systems.
Rajan Pental, Executive Director, Yes Bank said, “UPI has reshaped the digital payments space in India, but the challenge of extending formal credit to a wider audience remains. Yes Bank occupies a significant share in the payments and digital businesses, and is always at the forefront to implement initiatives to maintain its leadership position through engagements like API banking, customised digital solutions, and advisory services.”
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