Setu

Setu is an Indian API infrastructure for instant integration of UPI (P2P and P2M), BBPS, Account Aggregator and bank account verification via penny drop. It was founded in 2018 and is based in Bangalore.

Products The offer includes UPI deep links and dynamic QR codes, instant payouts, reverse penny drop verification and Account Aggregator access. Reverse penny drop confirms an account by having the user make a small payment, which is useful for validating beneficiary details before a payout. The company describes its stack as a reference developer toolkit for the Indian UPI system.

Customers Target segments are PSPs, fintech, e-commerce, lending, gaming and marketplaces. The market is India only.

Pricing Charges are made per API call or transaction. Businesses planning to operate in India should ask which products require a partner bank arrangement on Setu's side or their own, and how settlement timelines and failure handling work.