Rio.money, the fast-growing fintech platform, has introduced its highly anticipated UPI app, which integrates credit offerings directly into the UPI payment experience. In a move, Rio has partnered with Yes Bank and the National Payments Corporation of India (NPCI) to roll out the co-branded Yes Bank Rio RuPay Credit Card, setting the stage for a transformative shift in consumer finance across India.
This new UPI app allows users to make payments at over 100 million merchant locations nationwide, all while offering easy access to credit. The YES BANK Rio RuPay Credit Card provides an array of benefits including exclusive rewards, zero fees, and credit limits of up to Rs 5 lakh. Designed to meet the needs of modern consumers, this co-branded card integrates seamlessly with UPI, combining the benefits of traditional credit cards with the simplicity and reach of India’s most widely adopted digital payment platform.
In a statement, Riya Bhattacharya, Co-founder of Rio Money, highlighted the company’s vision for the future and said, "Rio will become the favourite UPI app for millions of users in India who lead aspirational lifestyles and seek affordable, innovative financial products. This partnership with Yes Bank and NPCI is just the beginning of how we aim to integrate credit with UPI to transform consumer finance in India."
Rio’s UPI app has already seen impressive traction, with over 10,000 downloads during its beta phase and a significant proportion of its users coming from Tier 2 and Tier 3 cities. The platform is positioning itself as a leader in UPI-enabled credit, addressing the growing demand for accessible, high-quality financial services outside India’s major metropolitan areas.
In a parallel effort, Yes Bank Anil Singh, Country Head – Credit Cards and Merchant Acquiring, expressed enthusiasm for the collaboration: "We are excited to offer this co-branded credit card to Rio users, unlocking the full potential of UPI and providing cashback and rich benefits that will appeal to consumers looking to simplify their everyday transactions."
The partnership is expected to drive a wave of adoption for credit-on-UPI solutions, which are already outpacing traditional credit cards in terms of user uptake. As UPI continues to grow rapidly, Rio is poised to capture a significant share of the market, with experts projecting that the opportunity for credit-on-UPI products could reach $1 trillion by 2030.
NPCI’s Nalin Bansal also expressed his support, stating: "We are pleased to partner with Rio, one of the pioneering fintech platforms integrating credit on UPI. Their focus on new consumer acquisition, rich cashback, and other benefits will drive responsible credit usage and financial inclusion."
With the credit card offering a wide range of benefits and exclusive rewards through Rio’s “Know Your Offers” feature, this collaboration is set to transform how millions of Indians manage their finances and make payments, paving the way for a new era in digital consumer finance.
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