Razorpay announced its partnership with NPCI Bharat BillPay Limited (NBBL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), to join Banking Connect. The next-generation solution reimagines NetBanking for the digital-first era, delivering a mobile-first payment experience for businesses and consumers across India.
For years, we believe, NetBanking has remained one of India's widely used payment methods for high-value transactions across sectors such as financial services, lending, education, and government. However, enabling NetBanking at scale often requires businesses to navigate multiple bank integrations, settlement workflows, and reconciliation requirements, creating additional operational complexity as they expand their payment acceptance capabilities.
At the same time, consumer expectations around digital payments have evolved significantly. While payment experiences have become increasingly seamless and mobile-first, many NetBanking journeys continue to involve multiple steps, redirects, and authentication processes before a payment is completed. Customers are required to navigate across screens and enter banking credentials as part of the payment flow, which can add time and effort to the overall experience.
Through NBBL’s Banking Connect, Razorpay aims to address these challenges by introducing a simpler and more intuitive NetBanking experience to its ecosystem. The solution modernises how businesses offer NetBanking while making payments significantly easier for consumers. Key benefits of Banking Connect include:
● Broader bank coverage: A single integration tries to give businesses access to multiple participating banks at once, replacing the need for separate bank-by-bank integrations
● Improved customer conversion: Businesses can offer customers a seamless, mobile-first payment journey through banking apps, intent, and QR-based flows, eliminating the need to repeatedly enter banking credentials or navigate multiple redirects.
● Simplified operations for businesses: Banking Connect streamlines settlement,
reconciliation, and bank connectivity through a unified framework, reducing operational complexity and making NetBanking easier to manage at scale.
● Easy adoption with minimal effort: The solution is available across Razorpay's checkout experience with no additional integration required, enabling businesses to offer an upgraded NetBanking experience without disrupting existing payment flows.
Commenting on the partnership, Arif Khan, CIO, Razorpay Technologies Private Limited, said, "As per RBI’s Annual Report’25, India is today the global leader in real-time digital payments. As adoption continues to deepen, the next phase of innovation is about ensuring every payment experience delivers the same levels of speed, convenience, and reliability that consumers have come to expect. Through Banking Connect, we endeavour to bring those standards to NetBanking, helping businesses offer a more seamless experience while preserving the trust and familiarity that make it such an important payment method."
Dr. Noopur Chaturvedi, MD & CEO, NPCI Bharat BillPay Limited (NBBL) said, "Our focus at NBBL is to build interoperable, future-ready payment infrastructure that improves experiences for both businesses and consumers. Banking Connect is designed to support emerging technologies while remaining widely accessible to every Indian. The partnership with Razorpay strengthens the Banking Connect ecosystem and will help accelerate the adoption of modern net banking experiences across the country."
Currently supported by banks including State Bank of India, HDFC Bank, ICICI Bank, Federal Bank, AU Small Finance Bank, and YES Bank, Banking Connect is expected to expand further as additional banking partners join the ecosystem.
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