Integration Enhances Checkout Speed and Expands Interoperability Across India’s Payment Ecosystem
In a significant move to strengthen India’s digital payments infrastructure, Axis Bank has joined the interoperable netbanking platform Banking Connect, developed by NPCI Bharat BillPay Ltd. The integration is set to deliver a faster and more seamless payment experience for millions of users.
With this development, Axis Bank joins other major lenders such as State Bank of India, ICICI Bank, and HDFC Bank already operating on the platform.
Faster Checkout Experience for 37 Million Customers
The integration will benefit over 37 million Axis Bank customers, enabling quicker checkout processes across more than 4,800 merchants in India. By streamlining authentication and payment flows, the platform significantly improves the traditional netbanking experience, which has often been fragmented and time-consuming.
Banking Connect acts as a centralised switch, allowing payment aggregators and banks to connect through a single interface rather than managing multiple bilateral integrations. This reduces complexity and enhances transaction efficiency.
Simplifying the Payments Ecosystem
Launched in 2025, Banking Connect addresses long-standing inefficiencies in the legacy netbanking system. Previously, each payment aggregator had to integrate separately with individual banks, creating operational challenges as the ecosystem expanded.
With standardized APIs and onboarding tools, the platform enables:
- Faster merchant activation
- Reduced integration time for payment aggregators
- Seamless interoperability across banks
Currently, eight banks and eleven payment aggregators are live on the platform, indicating growing adoption across the industry.
New Features to Drive Business Efficiency
NBBL is also working on advanced features to enhance the platform’s capabilities, including:
- Direct-to-Merchant Settlements
- Third-Party Verification (TPV)
- Mandate and lien functionalities
These additions are expected to support businesses with high-volume and complex payment needs, further expanding the platform’s use cases.
Strategic Push Towards Scalable Digital Infrastructure
According to Noopur Chaturvedi, the rising adoption of Banking Connect reflects strong confidence in its infrastructure. The focus remains on building scalable and future-ready payment rails that improve both consumer experience and operational efficiency.
Echoing this sentiment, Arnika Dixit highlighted that leveraging a single interoperable platform will streamline integrations and enhance convenience for customers.
Strengthening India’s Digital Payments Growth
This collaboration underscores the continued evolution of India’s digital payments ecosystem, driven by innovation and interoperability. As more banks and payment players join Banking Connect, the platform is expected to play a crucial role in simplifying transactions, reducing costs, and accelerating digital adoption across the country.
For Axis Bank, the move aligns with its broader strategy of adopting modern infrastructure to stay competitive in an increasingly digital-first financial landscape.