VMPL
Bengaluru (Karnataka) [India], October 8: Neokred Technologies today announced the expansion of its bank partnership programme, through which banks grow their share of UPI and card acquiring among their own current-account merchants and bring new merchants onto their books. The programme is powered by NeoRoute, Neokred’s payment orchestration platform for online and in-store payments.
The expansion builds on Neokred’s seven-year track record as an embedded finance infrastructure company serving 400+ enterprise clients, and reflects growing demand from banks for a technology partner that can deliver acquiring capability under the bank’s own brand.
One platform, many rails
Many merchants in India still depend on a single payment gateway. When that gateway slows, fails or changes terms, the merchant’s revenue stops with it. NeoRoute removes that single point of failure: it is pre-integrated with multiple licensed payment aggregators and banks, and routes each transaction to the best available rail based on success rates, cost and availability.
For merchants, the result is higher transaction success, clearer settlement visibility and one dashboard across UPI and cards, whether the customer pays on a website, an app or at the counter. For banks, it is a ready-made, white-labelled technology layer they can offer to merchants without building or maintaining gateway integrations themselves.
“Banks already own the merchant relationship and the current account. What they have often lacked is a technology partner that can turn that relationship into acquiring volume without a multi-year build,” said Tarun Nazare, Director, Neokred. “Our platform is designed to sit behind the bank, not in front of it. The bank stays the face to the merchant; we make the payments work.”
In-store acceptance with a new dimension
For merchants with physical stores, the programme includes Neokred’s certified range of UNIQ payment devices, from QR and soundboxes to POS terminals, with device management, monitoring and field servicing handled end to end.
Among these is a display-equipped soundbox that confirms UPI and card payments on screen and by voice, and uses its screen to show content between transactions. Merchants can promote their own offers to walk-in customers at the moment of checkout, and brands can reach consumers at the point of purchase through measurable, screen-based advertising, an alternative to posters, standees and hoardings.
The bank stays in control
In every partnership, the bank remains the regulated entity and retains full ownership of merchant onboarding, KYC, risk, monitoring and compliance. Neokred operates as the technology service provider, managing the platform, the devices and merchant-facing technical support.
“We are not trying to be a bank, and we are not trying to be a payment aggregator,” Tarun Nazare added. “There are excellent regulated institutions in India that already hold the merchant’s trust. We want to be the reason those institutions win more of that merchant’s payments.”
About Neokred
Neokred Technologies Private Limited is a Bengaluru-based embedded finance infrastructure company, founded in 2019, serving 400+ enterprise clients across banking, fintech and commerce. Its product suite spans identity and KYC APIs (ProfileX), consent management (Blutic), collections (CollectBot), payment orchestration for online and offline acquiring (NeoRoute), and the UNIQ range of payment devices.
Neokred partners with banks and licensed institutions to deliver payment technology under their brand. Learn more at www.neokred.tech.
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