Press Release Overview
On September 11, 2026, at the Global Fintech Fest 2026 in Mumbai, Phi Commerce – a payment‑technology firm – announced a suite of new platforms and strategic initiatives aimed at extending its capabilities beyond digital payments into credit and open‑commerce infrastructure.
Credit Line on UPI (CLOU)
Phi Commerce introduced Credit Line on UPI (CLOU), a pre‑approved virtual credit facility that is directly associated with a consumer’s UPI ID. Unlike traditional RuPay credit cards, CLOU does not require a physical or virtual card; instead, banks can identify eligible customers, assign risk‑graded credit limits, push pre‑approved offers, and obtain digital consent to activate the line. The end‑to‑end workflow – from credit assessment and line creation to transaction processing, billing, payments and collections – is consolidated on a single platform, enabling banks to deliver everyday and small‑ticket purchases across the existing UPI merchant ecosystem.
PhiAMS – Issuer Infrastructure
The company also unveiled PhiAMS, a cloud‑native, API‑first card and account management system built on a modular, event‑driven micro‑services architecture. PhiAMS supports the full credit lifecycle, including origination, product configuration, limit management, authorisation, billing, payments, collections, risk monitoring and customer servicing. It accommodates multiple credit products such as retail and corporate cards, virtual cards, buy‑now‑pay‑later (BNPL) schemes, and co‑branded programmes. Key capabilities include AI‑driven automated credit assessment, configurable product and credit controls, fraud and risk management, and regulatory features such as audit logs, data localisation and maker/checker controls. PhiAMS is positioned to help banks launch and customise products faster while reducing reliance on disparate technology layers.
Bharat Connect (BCaaS) – Net‑Banking Interoperability
Phi Commerce expanded its payment‑technology stack with Bharat Connect, a Banking‑as‑a‑Service (BCaaS) offering that leverages the centralised interoperable platform developed by NBBL. Through Bharat Connect, payment aggregators can seamlessly onboard the net‑banking layer using standard protocols, simplifying integration and deployment. This capability extends Phi Commerce’s reach across the acquiring ecosystem, complementing its issuing‑side solutions (CLOU and PhiAMS).
Open‑Commerce Credit Partnership with ONDC
In a strategic partnership with the Open Network for Digital Commerce (ONDC), Phi Commerce will act as a payment aggregator on ONDC’s credit rails. The initial focus is on health and life‑insurance affordability, allowing insurers to connect with multiple lenders via standard digital rails. Large annual premiums can be converted into manageable monthly instalments; for example, a ₹30,000 annual premium can be broken down into ₹2,500 per month. The infrastructure is designed to streamline lender connectivity, accelerate deployment and reduce distribution complexity, with the potential to extend similar financing models to retail, education and other sectors.
Executive Comment
Rajesh Londhe, Co‑founder of Phi Commerce, stated: “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.”
Closing Note
The announcements collectively broaden Phi Commerce’s technology stack across both issuing and acquiring sides of the payments ecosystem, reinforcing its ambition to provide a unified platform for financial institutions and businesses to build, manage and scale digital payment and credit products. For further information, visit https://phicommerce.com/. The release is distributed under an arrangement with PRNewswire; PTI assumes no editorial responsibility.