Mumbai, Feb 27 (PTI) Banking and payment solutions provider NPST and Hyperface have partnered to enable banks and credit issuers to offer embedded credit solutions through UPI, a statement said on Thursday.

Through this partnership, NPST will integrate its UPI switch technology with Hyperface's advanced Embedding Banking Platform, the statement said.

Also Read | Famous Birthdays on February 27: Elizabeth Taylor, Kate Mara, Prakash Jha and Subbaraju - Know About Influential Figures Born on February 27.

Hyperface's Credit Management Engine enables banks to build and deploy credit line on UPI-ready products rapidly and also re-calibrate in real-time to drive scalability, it added.

Banks and credit issuers can leverage their infrastructure and customer data to offer tailored UPI-based credit products. Eligible consumers will gain access to pre-approved credit lines at the point of sale, empowering them to make purchases and split payments into flexible instalments.

Also Read | Who Is Kshitij Tyagi, Indian Diplomat Who Slammed Pakistan Over Kashmir Remarks at UNHRC, Called It a 'Failed State Which Thrives on International Handouts'.

Deepak Chand Thakur, Co-Founder and CEO, NPST, said, "As consumer expectations evolve, this collaboration positions banks to meet those needs with agility — driving customer satisfaction, boosting transaction volumes, and creating new revenue streams through interchange fees.

“The rapidly evolving UPI ecosystem demands both technological sophistication and extraordinary agility — qualities that legacy systems simply cannot deliver”, said Ramanathan RV, Co-Founder and CEO, Hyperface -- Asia's first Credit Cards as a Service (CCaaS) platform. PTI

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)