HDFC Bank, India’s top private sector bank, has introduced new features for Unified Payments Interface (UPI) and Central Bank Digital Currency (CBDC) to elevate the digital banking experience for its customers. These innovations, launched during the Global Fintech Festival 2024 in Mumbai, have been developed in collaboration with fintech companies such as Kreditpe, Tonetag, and Payu to enhance the convenience, security, and accessibility of digital transactions.
The new offerings include UPI Circles – Agent Payments, a Personalized UPI Experience, and a User-Grade Programmable CBDC. Parag Rao, Group Head at HDFC Bank, emphasized that these advancements underscore the bank’s commitment to delivering innovative, customer-focused solutions.
HDFC Bank’s longstanding strategy of partnering with fintech firms like Mintoak, Zeta, Razorpay, Pinelabs, and Juspay has been instrumental in creating tailored solutions such as Smarthub Vyapar and Payzapp, addressing the diverse needs of customers across India.
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