Pine Labs & Axis Bank Launch 'UPISetu' – India’s First UPI-Focused Payments Platform

Tags: Economy/Finance

Pine Labs-owned Setu, an API infrastructure provider, in collaboration with Axis Bank, has launched UPI-Setu, India’s first UPI-focused payments platform for businesses and developers.

An Overview of the News

• The platform supports various UPI services including Third-Party Validation (TPV), Equated Monthly Instalments (EMIs), UPI Autopay, and basic QR code payments.

• Offers enhanced dispute resolution, instant cashback and refunds, as well as bank and brand offers, all through API integration.

• Merchants can create custom payment links or QR codes for both one-time and multiple payments.

Additional Highlights:

• In May 2024, Setu introduced Sesame, India’s first Large Language Model (LLM) specifically designed for the Banking, Financial Services, and Insurance (BFSI) sector.

Company Overview: Pine Labs is an Indian company specializing in point-of-sale and payment systems, headquartered in Noida, Uttar Pradesh.