ZestMoney gets listed on every popular UPI app using Setu BillCollect
ZestMoney, one of India’s top consumer lending fintech companies, aims to improve the lives of more than 300 million households in India. These households currently lack access to formal financing due to insufficient credit history.
ZestMoney puts customers in touch with lending partners and helps manage their credit. Their platform uses mobile tech, digital banking and Artificial Intelligence to make the lives of millions of Indian consumers, more affordable.
IN FOCUS
Loan EMI collections with—
Setu BBPS
Power payments over BBPS
How ZestMoney integrated with Setu BBPS BillCollect
ZestMoney wanted to expand their EMI collection options—to enable their customers to repay them with ease. What better way, than to get listed on every popular UPI application, via a BBPS integration.
BBPS or Bharat Bill Payment System is an NPCI-powered interoperable payment network. It connects businesses who need recurring payments—like ZestMoney—to their customers via third-party applications like PhonePe, GPay, PayTm etc.
The challenge—BBPS on-boarding can eat up months
Getting on-boarded on BBPS is a long, complicated affair. Working with incumbent financial institutions are a pain for every startup—due to messy documentation, poor technical support and lengthy processes.
Our solution
ZestMoney used Setu BillCollect APIs and settlement services to go live on BBPS in under 3 weeks.
ZestMoney wanted to on-board on BBPS quickly, without multiple integrations with different banks. Setu BillCollect provides the fastest and easiest API integration for on-boarding companies as billers on the BBPS network. Meanwhile, also making them discoverable across all BBPS-enabled UPI applications.
ZestMoney’s customers can now pay their EMIs from 400+ UPI apps and 3.5 million offline touch points.
What ZestMoney loved about Setu’s product—
Industry-best on-boarding times
Developer-friendly integration process
Significant drop in cost of collections
Crisp and clear reporting
“Integrating on BBPS through Setu was very smooth and their team was prompt in answering all our questions. The widespread reach of the BBPS network offers great convenience and functionality to an end customer. Now, they can pay us directly from any of their favourite UPI apps.”
Abhishek Pandey — Product Manager, ZestMoney
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