Zoho Founder Sridhar Vembu Launches UPI App to Challenge Paytm, PhonePe
Zoho founder Sridhar Vembu, who previously challenged WhatsApp with Arattai, is now entering India’s digital payments space with a new UPI-based application called Zoho Pay. The platform aims to compete directly with established players like Paytm and PhonePe while offering integrated payment solutions for businesses and individuals.
Key Features of Zoho Pay
- Multiple payment modes including UPI, cards, net banking
- Integration with Zoho’s Arattai messaging platform
- Recurring payment support for subscription management
- Seamless integration with Zoho’s business software suite
- Enterprise-grade security certifications
Currently in internal testing, Zoho Pay will roll out across India in phases over the coming months. The platform will function both as a standalone application and as an integrated feature within Arattai, allowing users to send and receive money directly through chat.
Business Payment Solutions
Zoho Pay is designed to simplify digital payments for businesses of all sizes. Companies can accept payments through multiple channels including invoice emails, payment links, custom payment pages, and client portals. The platform offers a comprehensive dashboard for managing high-volume transactions, chargebacks, and disputes.
According to Zoho, settlements will be faster with complete transparency and no hidden charges. The system generates detailed, customizable reports covering transaction histories, refunds, and payment summaries. For existing Zoho customers, the payment platform integrates directly with Zoho Books, Zoho CRM, and Zoho Invoice.
Transaction Fees and Security
Zoho Pay’s fee structure includes:
- UPI payments: 0.5% platform charge
- Card, net banking and RuPay transactions: 2% fee
- Bank transfers: 1% or Rs. 10 (whichever is lower)
- Corporate credit cards: 2.75% charge
The platform maintains enterprise-grade security standards with PCI DSS Level 1 and ISO 27001:2022 certifications. Data protection is ensured through TLS 1.2/1.3 and AES-256 encryption, complemented by real-time monitoring, intrusion detection, and fraud prevention systems.
