WhatsApp Pay races up UPI charts with 167 million transactions, overtakes Cred and Amazon Pay. NPCI had approved WhatsApp Pay to go live on UPI in November 2020 under the multi-bank model, initially allowing it to onboard up to 20 million users. * Updated Aug 17, 2026 2:56 PM IST The sharp rise in payments activity comes around 19 months after the National Payments Corporation of India (NPCI) removed restrictions on WhatsApp Pay's user onboarding in December 2024. (AI generated image) WhatsApp Pay has sharply expanded its presence in India's UPI market, processing 167.89 million transactions worth ₹12,957.07 crore in July 2026. Its transaction volume was more than twice the 74.6 million transactions recorded in the same month last year, according to a report by Business Standard. The Meta-owned messaging platform's payments service is now the eighth-largest UPI app in India by transaction volume, moving ahead of players such as Cred and Amazon Pay.

Razorpay recruits AI experts from Microsoft, Salesforce, and CRED to develop an advanced commerce platform. Table of Contents Razorpay expands AI leadership with strategic new hires. Fintech unicorn Razorpay has bolstered its artificial intelligence (AI) division by enlisting senior engineering talent from industry leaders such as Microsoft, Salesforce, CRED, and the AI startup Divyam.ai. This strategic move underscores the company's commitment to developing AI-centric financial infrastructure, poised for the evolving landscape of agentic commerce. On Tuesday, Razorpay announced that Sudhir Reddy, the former CTO and co-founder of Divyam.ai, will step in as the senior-most individual contributor, spearheading AI and data architecture initiatives. Joining him are Abhishek Agarwal, who previously held the position of Principal Group Engineering Manager at Microsoft; Bhavya Shivaprakash, a former Senior Director at Salesforce; and Anuj Mathur, ex-Senior Director at CRED. These appointments are pivotal as Razorpay gears up for a future where AI agents assume a proactive role - initiating purchases, negotiating transactions, and executing payments with minimal human intervention. Anticipating a paradigm shift in financial infrastructure. "The next decade of financial infrastructure will be constructed notably differently from the previous one," stated Shashank Kumar, co-founder and CTO of Razorpay. "Software will no longer merely assist businesses in their operations; it will increasingly possess the capability to reason, decide, and act on behalf of enterprises." This recent recruitment drive enhances the company's AI-centric engineering initiatives, which commenced last year with the appointment of Praburam Rambadran as Senior Vice President of Engineering. Since then, Razorpay has unveiled a suite of products, encompassing Agentic Payments, Agent Studio, and Connected Banking Agents, along with a collection of AI-native developer tools aimed at integrating artificial intelligence into its overarching financial services platform. Fostering autonomy in financial systems. The enlarged engineering team is set to enhance AI functionalities across various domains, including payments, banking, fraud prevention, risk management, and data infrastructure. The ultimate goal is to cultivate financial systems that are not only more autonomous but also scalable and resilient. Rambadran emphasized that scaling AI within financial contexts entails more than just the application of large language models. He pointed out that data quality, system reliability, and operational judgment are indispensable components of production-grade AI systems. The newly assembled leadership team has been selected for their expertise in designing AI platforms within large-scale, high-stakes settings. A shifting landscape in India's fintech sector. This development reflects a broader transition within India's fintech domain as enterprises progress beyond deploying AI as mere assistants, toward creating infrastructures that support autonomous financial decision-making. Rather than viewing AI as an isolated function, fintech firms are increasingly intertwining it into payments, banking, fraud detection, and merchant operations, thereby automating intricate workflows and enhancing operational efficacy. Razorpay's latest leadership appointments signify that the forthcoming competitive landscape may hinge more on engineering teams specifically tailored for AI-native financial services than on traditional software development methodologies.

Cred: 2% back on Debit Cards for rs 50K+ spends! Cred reintroduces debit card payment option for transactions over ₹50,000, offering 2% effective return on Burgundy Debit Cards, translating to 1.6% miles for Magnus Burgundy users. CardGuru Team about 3 hours ago SECTION 1, THE NEWS Cred, the Indian fintech platform primarily known for credit card bill payments and rewards, has reportedly reintroduced a debit card payment option for transactions exceeding ₹50,000. This development enables users to utilize their debit cards for larger value payments through the Cred platform. According to reports, the platform demonstrates a particular compatibility with the Burgundy Debit Card. Users transacting amounts of ₹50,000 or more with a Burgundy Debit Card via "cred" as the merchant can potentially earn a 2% effective return (ER). For individuals holding a Magnus Burgundy card, this 2% effective return can be converted into 1.6% in miles, based on a 5:4 conversion ratio. This reintroduction of debit card functionality for significant transactions provides a new avenue for users to earn rewards on their debit card expenditures within the Cred ecosystem. CardGuru's take. This move by Cred to reintroduce and incentivize debit card usage for high-value transactions marks an interesting shift in the rewards landscape, traditionally dominated by credit cards. For Indian credit card users who often find themselves needing to make large payments - perhaps for rent, education fees, or high-value purchases - this presents a valuable opportunity to earn significant returns on spends that might not otherwise accrue rewards as effectively. The explicit mention of the Burgundy Debit Card and its specific reward structure (2% ER, translating to 1.6% miles for Magnus Burgundy holders) indicates a targeted benefit. This makes it particularly relevant for individuals who already hold or are considering acquiring a Burgundy Debit Card and frequently engage in transactions above the ₹50,000 threshold. It offers a unique way to accumulate miles or cashback, potentially complementing or even surpassing rewards offered by some credit cards for similar transactions, especially given the typically lower reward rates on debit cards. CardGuru advises users to carefully review the specific terms and conditions on Cred for this debit card option, including any caps on rewards, eligible transaction types, and the exact process for availing these benefits. While this offers an attractive reward proposition, always ensure it aligns with your spending habits and financial goals. Verify if "cred" refers to payments made to Cred directly (e.g., utility bills through Cred) or if Cred acts as an intermediary for payments to other merchants. This could be a significant value-add for optimizing large expenditures. Original source Find the perfect credit card. Use its smart tools to discover cards that match your spending habits.