Zoho Corporation is launching Zoho Pay, a new UPI payments app set to compete with giants like PhonePe, Paytm, and Google Pay. Following the success of its Arattai messaging platform, the app is currently in internal testing and will be rolled out across India in phases.
Key Takeaways
- Zoho Pay is a new UPI payments app from Zoho Corporation.
- It will be available as a standalone app and integrated into the Arattai chat platform.
- The app is in internal testing, with a phased India rollout planned.
- Zoho aims to build a full-stack fintech ecosystem.
Deep Integration with Arattai Messaging
A key advantage for Zoho Pay will be its deep integration within the Arattai chat platform. The goal is to make sending money as simple as sending a text message. Users will be able to send and receive funds, pay bills, and make secure transactions without leaving their chat window, offering an experience similar to WhatsApp Pay.
This integration is poised to transform Arattai into a powerful super app. Given Arattai’s existing popularity surge, fueled by its ‘Made in India’ label and government official endorsements, Zoho Pay is positioned for significant market attention.
Building a Full-Stack Fintech Ecosystem
Zoho Pay represents a strategic move to build an integrated, full-stack fintech ecosystem. The company is leveraging its established B2B presence, including a Payment Aggregator license secured this year. It already provides for businesses, which includes proprietary Point-of-Sale (POS) devices for in-person transactions.
