EMI ON UPI

Introducing India’s first EMI on UPI infrastructure

Unlock instant credit for customers via pre-approved installment plans on UPI transactions at checkout, without a credit card.

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WHY NOW

550M+ UPI users. The next frontier of digital credit.

UPI is becoming default user behaviour, and EMI on UPI brings credit to the same checkout experience.

The rails already exist. This is an extension of a proven credit construct to a new, high-volume channel.

FOR ISSUERS

Leverage existing infrastructure for new revenue

Become the first issuer

A single online-checkout construct to offer Savings Account EMI on UPI at scale.

Become the first issuer

A single online-checkout construct to offer Savings Account EMI on UPI at scale.

Monetise zero-yield flows

Unlock interest and fee income from existing UPI transactions.

Monetise zero-yield flows

Unlock interest and fee income from existing UPI transactions.

Launch on existing UPI rails

Go live without new NPCI specifications or contextual code changes.

Launch on existing UPI rails

Go live without new NPCI specifications or contextual code changes.

HOW IT WORKS

Pre-qualified EMI at online checkout

Customers are pre-qualified against existing pre-approved limits before they see a price, with the plan secured by a standard UPI AutoPay mandate.

01 — Pre-qualification

Customer's mobile number exists with the merchant; Setu runs a real-time eligibility check with the issuer against the pre-approved limit.

01 — Pre-qualification

Customer's mobile number exists with the merchant; Setu runs a real-time eligibility check with the issuer against the pre-approved limit.

02 — Offer & opt-in

The merchant surfaces the EMI offer inline at checkout, and the customer agrees to set up a mandate.

02 — Offer & opt-in

The merchant surfaces the EMI offer inline at checkout, and the customer agrees to set up a mandate.

03 — Mandate capture

The merchant creates the mandate via Setu, which launches the UPI intent for the customer to review and enter their PIN.

03 — Mandate capture

The merchant creates the mandate via Setu, which launches the UPI intent for the customer to review and enter their PIN.

04 — Confirm & settle

Setu confirms the mandate; the issuer books the loan, settles funds, and begins monthly recovery.

04 — Confirm & settle

Setu confirms the mandate; the issuer books the loan, settles funds, and begins monthly recovery.

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ONE SEAMLESS FLOW

From checkout to repayment — all in one seamless flow

Upfront merchant settlement meets automated EMI recovery, delivering familiar EMI economics on UPI.

Instant funding

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Customer selects EMI on UPI at checkout
Issuer approves the credit line
Merchant receives the full purchase amount the same day

Instant funding

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Customer selects EMI on UPI at checkout
Issuer approves the credit line
Merchant receives the full purchase amount the same day

Faster settlement

Funds are settled T+1 day to the merchant
Setu orchestrates payment and settlement flows
Built on existing UPI infrastructure

Faster settlement

Funds are settled T+1 day to the merchant
Setu orchestrates payment and settlement flows
Built on existing UPI infrastructure

Automated recovery

Monthly EMIs are collected via UPI AutoPay
Intelligent retries improve collection success
Real-time status and reporting

Automated recovery

Monthly EMIs are collected via UPI AutoPay
Intelligent retries improve collection success
Real-time status and reporting

Become the first issuer

Become the first issuer to launch at scale

Earn interest and fee income with a single integration.

Get Early Access