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Fintech startup Navi looks to launch new products; tap credit opportunities around UPI

Economic Times · 9m

Fintech startup Navi, founded by Sachin Bansal, is planning to update its Unified Payments Interface (UPI)-based payments system and explore opportunities related to credit on UPI. Bansal expressed his interest in changing the way users interact with UPI through new product offerings on Navi. The National Payments Corporation of India allows credit transactions through UPI via RuPay credit cards or pre-sanctioned credit limits. Navi, initially a consumer lending platform, now offers larger personal loans, secured credit options, insurance broking, and asset management services. Despite competition, Google Pay and PhonePe hold a significant share of the UPI payments market.