When the payment matters most, Indians often choose NetBanking. Whether it’s Education fees, insurance premiums, SIP investments, B2B invoices, government dues, large-ticket purchases, travel bookings – these are not impulse transactions. They are deliberate choices, made by customers who want their money to move directly from their bank account.
As digital commerce evolves and customer expectations become increasingly mobile-first, there is an opportunity to make these trusted payment journeys even more seamless, intuitive, and convenient. That’s the vision behind Banking Connect, our partnership with NPCI Bharat BillPay Limited (NBBL).
Opportunities to Enhance the NetBanking Experience
NetBanking has always been built for high-intent payments. But as customer expectations evolved, a few areas emerged where the experience had room to grow.
- The checkout journey for users: Completing a NetBanking payment, especially on mobile, involves multiple steps: navigating to a bank portal, entering credentials, waiting for OTPs, and completing authentication before a session times out. Each additional step acts as a friction leading to the payment remaining incomplete. Today, NetBanking payments don’t reach completion due to customer drop-offs – a meaningful gap for businesses operating in high-value categories where NetBanking remains the preferred payment method.
- Bank enablement for merchants: Offering broad NetBanking coverage today means managing multiple bank integrations, settlement process, and reconciliation formats. For most merchants, enabling a NetBanking terminal takes 2-3 weeks. It’s an operational effort that doesn’t always reflect the scale of the opportunity.
This is where Banking Connect comes in.
The Next Chapter of NetBanking
With Banking Connect, Razorpay, in partnership with NPCI Bharat BillPay Limited (NBBL), is reimagining NetBanking for businesses and customers through one interoperable rail, instant enablement on all participating banks on Day 0, and faster mobile-first intent and QR-based payment experiences.
For businesses, this replaces bank-wise integrations with a single standardised NBBL rail to access participating banks faster and more efficiently – Simpler activation, reduced terminal-level dependencies, and streamlined settlement, reconciliation, refunds, and ongoing operations through a common rail!
Banking Connect aims to combine the trust of NetBanking with the convenience of modern digital payments, enabling more intuitive payment journeys for consumers and strives to help businesses deliver a smoother checkout experience at scale.
End customers can complete NetBanking payments using two new flows:
1. NetBanking through the bank app
The Intent flow brings a UPI-like experience to NetBanking.
This removes the need to open a bank web portal, remember NetBanking credentials, security questions, and navigate a browser-based payment journey on mobile.
- For users, it means fewer steps, fewer errors, and a more familiar app-first experience.
- For businesses, it means fewer drop-offs and higher chances of successful payment completion.
2. Desktop payments completed on mobile
The QR flow is built for shoppers who start a payment on desktop but prefer completing it on their phone.
This keeps desktop checkout simple while allowing customers to complete the sensitive authentication step on their mobile device.
What this means for businesses
Helps merchants modernise NetBanking without adding operational complexity.
- Higher payment success rates: By reducing redirects and moving customers into app-first or QR-based flows, the new experience aims to lower broken journeys, meaning better completion rates for merchants.
- Faster bank enablement: Instead of waiting for separate activations across multiple banks, merchants can benefit from a unified NBBL-led enablement model as participating banks go live.
- Wider bank coverage through one layer: NBBL creates a standardised bridge across banks and payment aggregators. This means merchants can offer broader NetBanking coverage without managing multiple individual bank-by-bank integrations.
- Better mobile experience: Intent-based flows are designed for customers who already live inside mobile banking apps.
- Simplified operations: With Razorpay handling routing, settlement, refunds, and reconciliation flows, merchants get a cleaner operational experience across the payment lifecycle.
- Future-ready payment rails: Banking Connect strives to bring NetBanking closer to the experience standards customers now expect from UPI and cards, faster, more reliable, and built for scale.
What this means for users
Today, significant number of users complete their transactions via net-banking.
End-customers are not choosing NetBanking because it is a fast option. They are choosing it because the intent is stronger: trust, certainty, and direct movement of money from their bank account.
That is why NetBanking continues to be preferred for high-value and regulated payments such as insurance premiums, education fees, loan repayments, investments, government payments, and other large-ticket transactions across Retail – Luxury items, Travel.*
- Pay directly from their bank account
- Use their bank app to complete the payment
- Avoid unnecessary web redirects
- Complete payments with fewer steps
- Experience a faster, mobile-first NetBanking journey
It strives to keep the trust of NetBanking and provides a better experience, reducing the drop-offs for the end customer.
NetBanking, reimagined for the era it’s actually in
- UPI changed how India pays quickly.
- Cards changed how India pays with rewards.
- We believe, NetBanking is built for high-intent payments, where customers want trust, control, and a direct connection to their bank.
Now with this launch, we believe that NetBanking 2.0 builds on the trust it has always inspired while delivering an experience designed for today’s digital-first world.
UPI waali speed.
Bank waala bharosa.
NetBanking ka naya era.
(Translated –
The speed of UPI.
The trust of the bank.
NetBanking, ready for its next era.)
