HDFC Bank’s PayZapp, Powered by Zeta, Wins Celent's Payments Innovation Award (2024)

We’re proud to announce that our valued partner, HDFC Bank, has won the prestigious Celent Model Bank Award 2024 for its PayZapp mobile application.

PayZapp isjointly developed by Zeta and HDFC Bank, a global top-10 bank, leveraging Zeta’s next-gen processing platform, Zeta Tachyon, and its bespoke engineering offering, Zeta Studios. Since its launch in March 2023, PayZapp has rapidly acquired 7+ million customers and has been rated by nearly half a million customers with ratings of 4.8 on iOS and 4.3 on Android, making it a top-rated app in the Finance section on the Indian app stores.Celent has published a case study titled HDFC Bank: Connecting Legacy and Innovation with PayZapp, highlighting the winning aspects of the initiative.

Ravi Santhanam received the award on behalf of HDFC Bank with the following quote:

“Celent’s recognition is a testament to our commitment to delivering world-class digital banking solutions that meet the evolving needs of our customers. PayZapp is a critical pillar of our digital transformation journey and a testament to the power of a modern customer experience built on a next-gen, cloud-native issuer processing stack.”

-Ravi Santhanam, Group Head, Chief Marketing Officer & Head – Direct to Consumer Business, HDFC Bank

Zil Bareisis from Celent commended HDFC Bank on their success:

“HDFC has demonstrated strong leadership by taking its competitors head-on and delivering a bank version of an innovative payments superapp with powerful features and a seamless and intuitive user experience. Executive sponsorship at the highest levels and a true partnership with an innovative and modern technology provider like Zeta enabled the bank to achieve successful outcomes.”

-Zil Bareisis, Head of Retail Banking and Payments, Celent

Celent’s annual Model Bank Awards celebrate and acknowledge the best practices in technology usage in banking. PayZapp is one of the 18 winners from 140+ nominations from 36 countries around the world. The awards are highly coveted and nominations undergo a rigorous evaluation process. The judging criteria include demonstrable business benefits, the level of innovation relative to the industry, and technology excellence.

“Zeta is honored to have played a pivotal role in PayZapp’s success. A Zeta Studio, in partnership with HDFC Bank’s talented and visionary teams, has delivered unparalleled payment choice for Indian consumers. HDFC Bank’s customers can choose whether to pay using their account using UPI, debit cards or credit cards, without having to switch multiple apps.”

-Ramki Gaddipati, CTO and Co-Founder, Zeta

Three things you must know about HDFC Bank’s award-winning PayZapp:

  • The PayZapp 2.0 app went live in March 2023and added 3 million users within the first three months of launch.
  • Zeta has enabled HDFC Bank to deliver industry-leading payments experiences to the market, supporting:
    • 23 universal payment methods,
    • innovative transactions like Swipe 2 Pay and Tap and Pay across prepaid, debit, and credit cards.
  • PayZapp leverages Zeta’s comprehensive, pre-integrated processing and services stack comprising:

    • Zeta Tachyon Suite: a next-gen processing platform with granular APIs and events, allowing rapid application development
    • Saturn Servicing Suite: reimagined web interfaces for Customer Service, Dispute Operations and Account Operations
    • Zeus Data Suite: open data stack comprising data extracts and visualizations for bespoke reporting
    • Zeta Studios: high-end bespoke engineering services comprising developers, designers, and product managers to deliver apps, integrations, and migrations at 2x the development speeds vs. traditional vendors

Download the full Celent award case study to know more about HDFC Bank’s PayZapp. And contact us to know how Zeta can help you deliver modern payment experiences to your customers.

HDFC Bank’s PayZapp, Powered by Zeta, Wins Celent's Payments Innovation Award (2024)

FAQs

Who is eligible for HDFC PayZapp? ›

Is there any eligibility criteria or registration process for the HDFC PayZapp e-wallet app? Any customer that holds an account with HDFC Bank and has either a debit or credit card is eligible to register for the HDFC PayZapp e-wallet app.

Who owns PayZapp in India? ›

PayZapp is a mobile payment and financial services app offered by HDFC Bank, one of India's leading banking institutions. This innovative app is designed to provide users with a wide range of convenient and secure financial solutions, all accessible from their mobile devices.

Is HDFC PayZapp useful? ›

PayZapp does not charge any transaction or service charges for bill payments. Plus, you may save up on transportation costs to visit brick-and-mortar establishments. You can access PayZapp any time you want, throughout the day. This means that you can pay your bills or make recharges any time you prefer, from anywhere.

Who is PayZapp powered by? ›

✅Fast and 100% secure ✅Pay anyone and scan any QR ✅One App for all your payments ✅Get Exclusive Offers.

Which bank belongs to PayZapp? ›

HDFC Bank's PayZapp is an online payment app, that doubles as a digital wallet and a virtual card.

Is PayZapp free? ›

No, PayZapp money transfer charges from your PayZapp wallet to any bank account are 2.5% plus any relevant taxes (18% GST). You can transfer money from your Payzapp account to your bank account after completing your full KYC. Money transfers to the Bank account are not permitted for non-KYC users.

Is PayZapp real or fake? ›

It is a 3rd party app for HDFC and not owned by HDFC. So beware if you have failed transactions from it. My points got deducted with the old PayZapp app though the transactions were failed transactions yesterday. My electricity bill also got deducted from linked credit card though it was failed transaction.

Who is the real owner of HDFC Bank? ›

Founded in 1977 by Hasmukhbhai Parekh, the entrepreneur who would also develop the institution that became ICICI Bank, HDFC by now had a strong brand name as a trusted provider of housing finance. There were clearly opportunities in what was happening in India.

Is PayZapp a UPI? ›

PayZapp is one such UPI-enabled app where you can link your bank account via UPI.

What are the disadvantages of PayZapp? ›

No physical card is available /provided to the customers. I don't find any pros in this wallet nothing special nothing new , no special offers , design.It is just copied from other brands.So I dont found it useful as it is ordinary with no good features.

What is the limit of PayZapp? ›

1. Your PayZapp wallet gets upgraded to a full KYC status. 2. Your wallet limit is ₹ 2 lakhs.

Is PayZapp available on iPhone? ›

Requires iOS 15.0 or later. Requires visionOS 1.0 or later.

Who is the owner of PayZapp? ›

HDFC Bank provides a number of products and services including wholesale banking, retail banking, treasury, auto loans, two-wheeler loans, personal loans, loans against property, consumer durable loan, lifestyle loan and credit cards. Along with this various digital products are PayZapp and SmartBUY.

How do you use PayZapp effectively? ›

To Send money instantly from account to account using UPI
  1. Click on send money icon present on the home screen.
  2. Select BHIM UPI and enter Payee's UPI ID. You can also Select contact or enter payees Bank account details to make a transfer.
  3. Enter the amount and select bank account.
  4. Enter UPI pin.

Can we transfer money from PayZapp to bank account? ›

You can make a PayZapp to PayZapp fund transfer in a single click. You can also send money from PayZapp to any bank account and enjoy the benefits of a cash free and instant transfer experience anytime you require it.

Can PayZapp be used by non HDFC customers? ›

Yes, you can do KYC on PayZapp even if you don't have an HDFC Bank account. PayZapp provides a streamlined KYC process, allowing users to complete the verification without being an existing HDFC Bank customer.

What is the minimum requirements for HDFC? ›

Hadoop nodes should have a minimum of 100GB memory and at least four physical cores. If Hadoop services are running with the same nodes as the HDFS Transparency service, a minimum of 8 physical cores is recommended.

What is the offer of PayZapp? ›

PayZapp offers on Payment
Category / MerchantOfferMax Cashback
Shopping/Gift5% Cashback upto Rs 200200
10% Instant Discount-
Rent Pay5% Cashback upto Rs.300 on Rent payments (Only on PZ wallet & Linked HDFC bank cards)300
5% Cashback upto Rs.250 on Registered Societies (Only on PZ wallet & Linked HDFC bank cards)250
24 more rows

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