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Pine Labs-owned Setu partners Axis Bank for UPI-focused payments platform

Economic TimesEconomic Times · 2m
Pine Labs-owned Setu partners Axis Bank for UPI-focused payments platform

Setu, an API infrastructure provider owned by Pine Labs, has partnered with Axis Bank to launch UPISetu, a platform focused on Unified Payments Interface (UPI) payments. UPISetu supports various UPI products like QR code payments, UPI Autopay, EMIs, and third-party validation. The platform offers features such as brand and bank offers, advanced dispute resolution, instant cashback, and refunds through APIs. Pine Labs CEO, B Amrish Rau, believes the launch of UPISetu will be a game-changer for the ecosystem as credit on UPI gains momentum. In May, Setu introduced Sesame, India's first large language model (LLM) tailored for the banking and insurance sector. UPI transactions have witnessed consistent growth, with total transactions exceeding Rs 20 lakh crore every month in the past three months.

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