Fintech co Navi collabs with Karnataka Bank to introduce credit line on UPI

Fintech firm Navi on Wednesday announced a partnership with Karnataka Bank to roll out a credit line on UPI product for customers on the platform.

At present, the Sachin Bansal-founded fintech company has introduced the offering to a closed group of select users. It plans to launch it to a wider user base based on feedback.

The announcement comes as credit transactions on India’s flagship payments platform, Unified Payments Interface (UPI), are reaching Rs 10,000 crore each month, out of which about Rs 100 to 200 crore come from the credit line on UPI product.