Phi Commerce goes beyond payments with new UPI credit, issuer and open-commerce infrastructure

MUMBAI, India, Sept. 11, 2026 /PRNewswire/ -- Phi Commerce, a payment technology company, today announced a set of new platforms and strategic initiatives at Global Fintech Fest 2026 spanning UPI-native credit, bank issuer infrastructure, net-banking connectivity and open-commerce financing.

The announcements reflect Phi Commerce's expanding focus from enabling digital payments to building technology infrastructure through which banks, payment aggregators and digital-commerce platforms can deliver new payment and credit experiences.

Bringing credit onto UPI

Phi Commerce has launched Credit Line on UPI (CLOU), a pre-approved credit facility integrated directly with a user's UPI ID. Powered by PhiAMS, CLOU enables banks to extend UPI-native credit for everyday and small-ticket purchases across the existing UPI merchant ecosystem.

Unlike a RuPay credit card, which requires issuing a physical or virtual card and linking it to UPI, CLOU provides a virtual credit line directly through the UPI journey. Banks can identify eligible customers, assign risk-graded credit limits, communicate pre-approved offers, and enable customers to consent to and activate the facility digitally.

For banks, CLOU brings together credit assessment, credit-line creation, consent and activation, transaction processing, risk controls, billing, payments and collections on a unified platform.

A new infrastructure layer for card and credit issuance

Phi Commerce has also unveiled PhiAMS, its cloud-native, API-first card and account management platform designed for banks and other financial institutions.

Built around a modular, event-driven microservices architecture, PhiAMS supports the credit lifecycle from origination and product configuration through limit management, authorisation, billing, payments, collections, risk and customer servicing. The platform supports multiple credit products, including retail and corporate cards, virtual cards, BNPL, and co-branded programmes.

PhiAMS helps banks launch and customise products faster while reducing dependency across technology layers. Its capabilities include automated credit assessment using AI, configurable product and credit controls, fraud and risk management, and regulatory features such as audit logs, data localisation, and maker/checker-based controls.

Making net-banking payments more interoperable

Phi Commerce is also expanding its payment infrastructure through Bharat Connect, the centralised interoperable platform developed by NBBL to simplify net-banking payments for payment aggregators.

Through Phi BCaaS, Phi Commerce enables payment aggregators to seamlessly onboard the net-banking layer using standard protocols, simplifying integration and deployment.

This extends Phi Commerce's payment technology stack across the acquiring ecosystem, alongside its issuing-side capabilities through PhiAMS and CLOU.

Taking credit into open commerce

Phi Commerce has entered into a strategic partnership with the Open Network for Digital Commerce (ONDC) to become a payment aggregator on ONDC's credit rails, with an initial affordability proposition focused on health and life insurance.

The initiative connects insurance providers with multiple lenders over standard digital rails, allowing large annual premiums to be converted into manageable monthly payments. For example, a ₹30,000 annual premium can be converted into monthly payments of ₹2,500.

The infrastructure is designed to simplify lender connectivity, accelerate deployment and reduce distribution complexity, while creating the potential to extend financing-led affordability into other sectors such as retail, education and healthcare.

Building what comes after payments

"India has built extraordinary digital infrastructure for moving money. The next opportunity is to build the infrastructure that allows banks and businesses to put that scale to work across credit, commerce and new financial products," said Rajesh Londhe, Co-founder, Phi Commerce.

The new offerings expand Phi Commerce's technology stack across both sides of the payments ecosystem, from issuing and managing credit products for banks through PhiAMS and CLOU, to enabling acquiring and payment connectivity through its Bharat Connect capabilities. Together, they reflect Phi Commerce's broader focus on building a unified payment technology platform that enables financial institutions and businesses to build, manage and scale digital payment and credit products.

For more information, visit: https://phicommerce.com/