Launch · Financial Services

ZET launches RuPay credit card linked UPI feature

By Startup Enthusiast · 21 January 2026

What they do

ZET provides secured credit cards backed by fixed deposits to help users build credit scores

The company launched a new UPI feature allowing payments via RuPay credit cards for subscribers

This targets India's 400 million credit-invisible adults with digital tools for spending and repayment

ZET received approval from the National Payments Corporation of India (NPCI) to operate its UPI ecosystem.
The company launched ZET UPI, a feature enabling payments through RuPay credit cards linked to UPI.
This launch allows users to make digital payments using credit lines instead of direct bank transfers.
ZET Plus subscribers receive a flat 2% cashback on all UPI payments made via these credit cards.
The service is powered by Juspay for UPI infrastructure and supported by RBL Bank for banking operations.
ZET was formerly known as OneCode before rebranding to its current identity.
The platform offers a single interface for users to track spending, manage repayments, and monitor credit score growth.
ZET has raised over $18 million in funding from various institutional and angel investors.

India has approximately 400 million adults who lack formal credit history or are considered credit-invisible.
Traditional credit products often exclude these individuals due to the absence of a credit track record.
Secured credit cards backed by fixed deposits provide a pathway for these users to build credit scores.
Combining credit building with daily payment utilities addresses both financial inclusion and user retention needs.

ZET issues secured credit cards that require customers to hold fixed deposits as collateral.
These cards help users build credit scores above 750 through responsible usage and timely repayments.
The target market consists of millions of Indian adults who do not have formal credit histories.
Users can access the platform to monitor their credit score growth and manage their repayment schedules.
A subscription model called ZET Plus costs ₹3 per day for additional benefits like zero convenience fees.
Subscribers also receive cyber fraud insurance protection alongside the cashback rewards on UPI transactions.
The technology stack relies on Juspay to handle the underlying UPI infrastructure securely.
RBL Bank acts as the banking partner to support the regulatory and operational aspects of the offering.

Peak XV Partners (lead) — Marquee investor providing significant capital backing to the startup.
General Catalyst (co-lead) — Marquee investor supporting the company's growth and expansion plans.
Nexus Venture Partners (participated) — Marquee investor involved in financing the company's operations.
WaterBridge Ventures (participated) — Marquee investor contributing to the funding rounds.
Kunal Shah (angel) — Angel investor and founder of CRED providing early-stage support.
Amrish Rau (angel) — Angel investor and founder of Pine Labs backing the venture.