Indian businesses are losing thousands to fragmented finance operations, despite UPI handling 22.64 billion transactions monthly. The bottleneck has shifted from payment acceptance to the hidden costs of post-transaction reconciliation and settlement. Zoho Payments launched to tackle this exact problem, offering a unified platform for collections and reconciliation.
How We Got Here
Zoho received its payment aggregator licence from RBI in February 2024, paving the way for Zoho Payments. This follows a decade where Indian fintech focused on payment acceptance, largely solved by UPI which processed ₹29.53 lakh crore in March 2026.
The Numbers
- Zoho Payments helps businesses manage collections, settlements, and reconciliation within the same system.
- A typical mid-sized Indian business fragments operations across 5+ systems for accounting, POS, subscriptions, payment processing, and bank portals.
- Finance heads grapple with issues like automatic invoice closure, receipt generation, and retrying failed subscription renewals.
- Zoho gained insights into these operational challenges from its diverse software suite covering finance, HR, and sales across industries.
What Happens Next
🇮🇳 Why This Matters for India
For millions of SMB finance teams in cities like Ahmedabad and Coimbatore, automating reconciliation promises significant time and cost savings currently lost to manual spreadsheet work.
The Take
The real winners here are mid-sized Indian businesses, who stand to save significant operational costs. This forces standalone payment gateways to either integrate deeper or risk becoming commoditized features.
Source:
YourStory ↗