HDFC Bank PayZapp Powered by Zeta

HDFC Bank’s PayZapp, Powered by Zeta, Wins Celent’s Payments Innovation Award

Apr 30, 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 is jointly 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 2023 and 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.

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