This updated corporate identity somehow mirrors the company’s longer-term intention to shape an inclusive, technology-led financial ecosystem that connects the gap between formal financial institutions and underserved pockets of communities across India. And yes, Ezeepay will continue running as the company’s kind of flagship assisted fintech brand, while MJ Digital Services ends up acting as the parent technology company – pushing innovation across digital payments and assisted banking. It also covers merchant enablement, Banking-as-a-Service (BaaS), API-led financial infrastructure, and SaaS platforms, plus embedded finance solutions. On top of that, it includes compliance technology and builds digital financial infrastructure in a more holistic way. The company is additionally strengthening its enterprise side by helping banks, NBFCs, fintechs and businesses connect financial services through secure application programming interfaces and scalable technology platforms.

Alongside its assisted fintech network, MJ Digital Services is now expanding its tech stack through software-as-a-service solutions, plus API-based financial infrastructure and enterprise-level digital platforms. Honestly, the idea is to give banks, NBFCs, fintech companies, enterprises and merchant networks a smoother way to plug in digital payments, identity checks, collections, merchant onboarding, financial service delivery and other embedded financial features directly into their own systems. The solutions are meant to make integration feel more seamless and less time-consuming, so ecosystem partners can launch with confidence. With an API-first architecture in place, the company can support faster connections, better scaling and safer digital financial experiences, even as partners grow and their needs shift a little.

The new corporate identity kind of marks the company’s next phase of growth as it expands its technology capabilities, strengthens partnerships with banks and financial institutions and also develops new digital platforms to speed up financial inclusion, or economic empowerment, if you will. It’s all moving a bit faster these days.

Commenting on the announcement, Shams Tabrej, Co-founder & CEO, MJ Digital Services, said, “Our new corporate identity shows how our purpose has shifted. Over the years, Ezeepay has gained the trust of lakhs of merchants and millions of customers by making financial services easier to reach. As we expand our technology capabilities, we’re also building scalable SaaS platforms and API-led financial infrastructure that will help banks, fintechs, enterprises, and ecosystem partners move ahead faster while making digital financial services more accessible across India.”

The new identity also underlines the company’s resolve to help local entrepreneurs turn into digital financial service providers within their own communities. By pairing technology with a robust assisted commerce network, MJ Digital Services continues to align with the Government of India’s vision of a digitally empowered economy. And yes, it’s meant to feel practical, not just theoretical.

As digital financial adoption gathers pace across the country, the company plans to invest more in product innovation, merchant enablement, AI-powered financial technologies, compliance, and scalable infrastructure to better match the changing needs of consumers, businesses, and financial institutions. With this refreshed corporate identity, MJ Digital Services intends to boost its position as a dependable partner in India’s digital financial shift while still growing the reach of the Ezeepay brand, step by step.

Delhi, 08th July, 2026: India’s digital payments revolution has a hidden underbelly. Even as Digital transactions are to scale from the current 300 Trillion per annum (FY25) in terms of value to 907 Trillion by FY30 with UPI transaction scaling from the current 189 Trillion in terms of value to 485 Trillion by FY 30*. This is a near threefold surge, a parallel criminal infrastructure has been built directly into the country’s fastest-growing payment rails. In March 2026 alone, mFilterIt’s ongoing surveillance of the digital payment ecosystem flagged a staggering 5,24,121 mule instances, evidence not of scattered scams, but of an entrenched, industrial-scale fraud network hiding in plain sight.

* Source PWC report “The Indian Payments Handbook” released in October 2025 at the global fintech fest.a

At the heart of this shadow economy are the “mules”, bank accounts, UPI IDs, and merchant accounts hijacked into service as invisible conduits for dirty money; most of these “mules: are willing accomplices. Many belong to ordinary Indians who have no idea their identities are laundering the proceeds of fraud.

The anatomy of the network is Alarming. Of the total instances flagged, 5,20,559 were Virtual Payment Addresses (VPAs) actively misused for fraudulent activity. UPI VPAs have become the weapon of choice for fraudsters for a simple, chilling reason: they can be spun up in minutes, shared instantly, and used to collect scam payments with almost zero friction.

The data also exposes exactly where the system is bleeding. Payments Banks accounted for 41% of all suspicious VPA activity, the highest share of any category, their fast, low-friction onboarding turned into an open door for criminals. UPI merchants made up another 11% of mule activity, with some accounts, particularly those onboarded through payment aggregators, allegedly weaponised to harvest scam payments under the cover of legitimate commerce.

Taken together, the findings paint a sobering picture: fraud networks that are larger, more organised, and more mobile than ever, constantly shifting locations, identities, and methods to stay one step ahead of banks and regulators.

Commenting on the findings, Amit Relan, CEO & Co-Founder, mFilterIt, said, “Mule accounts have become the backbone of organised digital fraud in India. As UPI adoption accelerates, fraudsters are exploiting the very speed and accessibility that make the ecosystem so effective to move illicit funds through the banking channels. What we are seeing is not a handful of isolated bad actors, but a coordinated network of mule identities designed to stay one step ahead of detection. Add to this the bad actors are also coordinated with Transnational / non state actor backed players which exacerbates the problem further.

At mFilterIt, our approach is twofold. We continuously track and monitor emerging modus operandi across the digital landscape, and we identify the mule conduits enabling these operations, reporting them to the relevant Regulated Entities and Law Enforcement Agencies. Tackling this problem requires the same speed and scale that fraudsters operate at, backed by real-time intelligence and close collaboration between technology providers, banks, and regulators.”

The stakes could not be higher. As mule networks grow more sophisticated by the month, the window to identify and dismantle them is narrowing. What hangs in the balance is not just money, it is the trust of hundreds of millions of users that holds India’s digital payments miracle together. Lose that, and the entire edifice is at risk.

02 July 2026, India – Standard Chartered today announced that it has processed a remittance payment under the new retail payments scheme from Swift. In a world-first, Westpac (Australia) sent a transaction to India via Standard Chartered via this scheme. Leveraging its advanced capabilities in India, Standard Chartered enabled near real-time credit to the beneficiary bank, demonstrating a major leap in the country’s payment ecosystem.

This transaction was completed in 37 seconds end-to-end. This reiterates the Bank’s ability to complete an end-to-end transaction with any participating bank in India in record time using Swift rails. As well as the fastest possible settlement time, Swift’s retail payments scheme delivers benefits to both senders and receivers of international payments, including end-to-end transparency so that a payment can be tracked, upfront certainty of cost with no hidden fees, and no surprise FX deductions, so that the amount that is sent is exactly what lands in the beneficiary’s bank account.

At an event hosted by Swift in collaboration with the Indian Banks’ Association, focused on modernising payments, P D Singh, CEO, India & South Asia, Standard Chartered was felicitated to mark the achievement as the first bank in India to process a payment under the Swift scheme.

P D Singh, CEO, India & South Asia, at Standard Chartered, said, “Our cross-border and network capabilities have been the cornerstones of the Bank’s sharp focus across key markets including India. It is indeed a moment of great pride for Standard Chartered, India, to be globally the first bank to process a payment within seconds under Swift’s retail payment scheme. We’re enabling people all over the world to send money back to India just as easily as they can send money domestically.

With this initiative they will get a truly best-in-class payments experience backed by the security of the banking ecosystem, and we’re delighted to be working with the industry to make it possible,” Singh added.

Kiran Shetty, Chief Executive of Swift India and South Asia, said, “This demonstrates the power of Swift’s cutting-edge capabilities; leveraging its existing global rails to drive real transformation in cross-border payments. For India, the world’s largest recipient of remittances, where they play a significant role in GDP, this evolution is particularly critical.

·         Always check before you pay: Before making any payment, check the name that appears on the screen. Make sure it is the person or business you want to pay. Taking a few seconds to confirm can help avoid mistakes.

·         Use only trusted payment Apps and websites: Make payments only through official and well-known Apps or websites. Do not download Apps or click on links sent by people you do not know or trust.

·         Do not share your PIN or OTP with anyone: Your UPI PIN, OTP, or bank details are private and confidential. Never share them with anyone, even if they say they are from a bank or police or any government office.

·         Do not rush into any payment: If someone asks you to make a payment quickly or share your details urgently, take a moment. You can always say you will check and call back. It is okay to take your time.

·         Keep payment alerts on and check them often: Turn on SMS and App notifications for your payments. Read each alert carefully. If something looks wrong, contact your bank or payment App immediately.

By adopting a few mindful habits, every user can ensure they take charge of their digital safety. With awareness and responsible use, digital payments can continue to be a trusted and empowering part of daily life. Report suspicious number to the national cybercrime helpline by dialing 1930 or the Department of Telecommunication (https://sancharsaathi.gov.in/sfc/). Save messages, take screenshots and document interactions. This can help authorities if you need to file a report.

Bengaluru, June 20, 2025: IndusInd Bank announced that it has received the Digital Payments Award 2023-24 from the Department of Financial Services (DFS), Ministry of Finance – Government of India. The Bank earned this recognition by securing third position among private sector banks for delivering outstanding performance in digital payments during the financial year 2023–24. The award ceremony, which took place on June 18, 2025, at Vigyan Bhavan, New Delhi, was graced by the Union Minister of Finance Smt. Nirmala Sitharaman as the Chief Guest, and Shri Pankaj Choudhary, Minister of State for Finance as the Guest of Honour, among other dignitaries.

This award stands as a testament to IndusInd Bank’s unwavering commitment towards advancing its digital capabilities and delivering a secure, scalable and innovative digital payment solutions that empower millions across the country. As per the official scorecard released by the Department of Financial Services, the Bank achieved 120% of its digital transaction target in FY23-24 – highest among all private sector banks in India. The award was presented to IndusInd Bank – Mr. Ritesh Raj Saxena, Head of Direct Banking and Mr. Dev Ratan Suri, Head – SDG (Payments, Cards and Govt Business) by Shri M. Nagaraju, Secretary, Department of Financial Services and Dr. Abhijit Phukon, Economic Advisor, DFS, at the Digital Payments Award ceremony.

Speaking on this achievement, Mr. Soumitra Sen – Head of Consumer Banking & Marketing, IndusInd Bank, said, “We are honoured and grateful to the Department of Financial Services, Ministry of Finance, for conferring us with this award and recognizing IndusInd Bank’s efforts in driving digital adoption across the country. This recognition reinforces our resolve to continuously innovate and offer our customers intuitive, secure, and personalised banking experiences through our differentiated platforms, such as INDIE. We remain committed to supporting India’s digital journey and making banking accessible and effortless for every segment of society.”

IndusInd Bank, under its Digital 2.0 strategy, continues to deliver seamless, inclusive, and innovation-led financial experiences. Our flagship app, INDIE, highly rated financial app on the App Store is redefining retail banking with 1.6 million active users. The bank’s digital credit platform processed 1.2 million applications monthly through fully digital journeys. With an overall digital transaction mix at 93% (as of March 31, 2025), IndusInd Bank remains at the forefront of India’s digital payments space.

            Link to first ad film: https://youtu.be/R_qhYgQHFdA?si=nlNtLnMn2_BlyKT1

Bengaluru, June 17, 2025: NPCI Bharat BillPay Ltd. (NBBL), a wholly owned subsidiary of the National Payments Corporation of India (NPCI), has launched an impactful campaign to build trust and drive awareness among customers and billers for its bill payments platform, Bharat Connect. Conceptualised by DDB Mudra Group, the evocative campaign, “Aap Humein Jaante Nahi, Par Maante Hain” (You May Not Know Us, But You Trust Us), focuses on Bharat Connect’s seamless integration into everyday life, empowering bill payments and financial transactions for consumers with unparalleled ease, security, and accessibility. Bharat Connect serves as a unified platform enabling seamless payments for both recurring and one-time bill payments.

Bharat Connect operates as a robust, interoperable platform, seamlessly managing both recurring and non-recurring payments, from utility bills, credit card bills, insurance premiums to loan EMIs and more. Its comprehensive infrastructure weaves through partner platforms, including fintech apps, bank applications, websites and assisted channels, creating a ubiquitous ecosystem for secure and accessible payments across diverse categories.

The nationwide campaign, which unfolds through relatable slice of life situations, will be released in eleven languages to connect with consumers on a personal level. Featuring popular faces including Puneet Issar, Shreya Dhanwanthary, Sharib Hashmi, Chandan Roy and Gopal Datt the campaign authentically illustrates the trust millions place in Bharat Connect daily, even if the platform operates behind the scenes. This 360-degree campaign will be rolled out across television, digital platforms, print, radio and out-of-home media.

Speaking about this campaign, Noopur Chaturvedi, MD & CEO, NBBL, said, “Bharat Connect stands as a trusted and inclusive digital infrastructure for bill payments that touches the lives of millions every single day. With this campaign, we aim to make our purpose visible and assure every Indian of ease, safety, and reliability when managing their essential payments. Through relatable instances in this campaign, we aim to reaffirm Bharat Connect’s role in enabling India’s digital future.”

“The insight driving this campaign stemmed from a simple truth: while Bharat Connect powers millions of daily bill payments, its name remains unfamiliar to most. This gap between utility and awareness became the foundation of our narrative — highlighting how a trusted service can be deeply embedded in people’s lives, yet remain invisible” said Gagandeep Bindra & Rahul Arcot, Group Creative Directors, DDB Mudra Group.

Through this integrated campaign, Bharat Connect establishes its commitment to reliability, ease of use, and inclusion across India’s digital payments landscape. By establishing essential awareness for the bill payment platform, Bharat Connect aims to empower households and individuals relying on it for bill payments and financial transactions throughout their daily routines.

The two-day IDS 2025 is being organized by the Internet and Mobile Association of India (IAMAI) in collaboration with the Ministry of Electronics and Information Technology (MeitY), and the Ministry of Information and Broadcasting, Government of India, and is supported by Digital India, Skill India and Make in India.

Elaborating on the phenomenal potential of UPI he said, “UPI has become the foundational infrastructure layer leveraged by all players, whether fintech startups in financial services or other industries. The journey of UPI transforming into this infrastructure layer over the last 8–10 years has been remarkable. The unwavering support from the RBI and the government has been crucial in driving continuous innovation. This support has only grown stronger, encouraging efforts to scale UPI further.”

Speaking on the growth of Rupay Mr. Asbe said, “The RuPay card network is growing rapidly and has the potential to become one of the largest in India. Currently, RuPay holds about 16-17% of the credit card market share, and with increasing momentum, we aim to make it an equal player within the next couple of years.”

“On the topic of security, while fraud and hacking can’t be entirely eliminated, much progress has been made. The RBI has a dedicated cyber security division, and institutions like NCIIPC and CERT-IN under MeitY are working to secure critical infrastructure. However, continued investments in skills, tools, and processes are mandatory to tackle the growing challenges,” he added.

IDS is being Powered by NPCI. Amazon.in and MPL are Platinum partners. Among Gold Partners are PhonePe; Australia Trade and Investment Commission; IDA Ireland; Paytm ads, Jagran New Media and Exotel. Route Mobile is the Cloud Communications Partner. Silver Partners include AWS, ShareChat, Shiprocket; Times Internet, and TV9 Network.

Axis Bank has strategically focused on partnering with onboarding not only large fintech giants who were early entrants in the UPI space, but also joining hands with new entrants in this space. The objective of these tie-ups is to capture the captive base of these new entrants and offer them UPI solutions directly on their apps. This strategic move of partnering with organisations Fintechs who target specific customer segment and ones who bring value proposition to a varied customer base have been instrumental in this achievement.

Coupled with a robust IT infrastructure encompassing both on-premise and cloud-based systems, this approach has propelled the Bank’s growth in the UPI ecosystem. Axis Bank collaborates with 15 prominent Third-Party Application Providers (TPAPs), including Google Pay, PhonePe, WhatsApp, Paytm, Amazon, Samsung Pay, Navi and Cred. Additionally, the UPI functionality is available through Axis Mobile “Open,” BHIM Axis Pay, and Freecharge, a subsidiary of the Bank.

Sanjeev Moghe, President & Head – Cards & Payments, Axis Bank, commented on this achievement, saying, “We are immensely proud to have reached this significant milestone in our journey within the UPI ecosystem. This leadership position reflects Axis Bank’s commitment to building lasting partnerships with fintech leaders while welcoming new entrants into the space. This accomplishment is the result of the hard work and dedication of our teams and the trust of our customers and partners. We will continue leveraging advanced technology and strategic collaborations to deliver and co-create secure, reliable, and scalable modes of payments.”

Axis Bank is committed to enhancing its leadership in the UPI space through ongoing collaboration with the ecosystem, focusing on innovative products like UPI Lite, UPI AutoPay, and Merchant Plug-in for merchant payments. The Bank aims to introduce new UPI-based offerings that elevate the payment experience and cater to emerging needs of customers across India.