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Indian software company Zoho Corporation has announced a significant expansion of its financial technology portfolio, unveiling point-of-sale (POS) and QR-based payment devices as part of its broader move into digital payments infrastructure.
The new products, introduced under the Zoho Payments brand, support multiple payment methods including cards, UPI, and QR codes, and are designed to integrate with Zoho’s existing suite of enterprise tools. The company said the devices include embedded billing, reconciliation modules, and real-time transaction visibility, signalling an attempt to build an end-to-end ecosystem for small and medium-sized businesses.
A Push into Financial Infrastructure
Founder and CEO Sridhar Vembu noted that the company aims to connect payment acceptance directly with its accounting, inventory, and customer relationship management products.
The announcement follows months of speculation about Zoho’s entry into the financial services sector. The firm has previously offered integrations with payment gateways but is now moving into hardware and direct payment processing, bringing it closer to competitors such as Razorpay, Pine Labs, and Paytm in the SME payments market.
Timing and Market Context
The launch arrives as India continues to experience rapid growth in digital transactions, with UPI alone processing over 12 billion transactions monthly, according to the National Payments Corporation of India (NPCI).
The domestic push also coincides with a broader trend of software firms embedding financial features into their products to capture a greater share of transaction value. Analysts note that Zoho’s approach—linking payments directly to operational tools—could reduce friction for small merchants navigating fragmented systems.
Arattai and the “Swadeshi” Momentum
Zoho’s fintech expansion runs parallel to a surge in visibility for Arattai, its homegrown messaging app, which has reportedly seen a 100-fold increase in user sign-ups following government support for India-made technology.
The rise of Arattai has reinforced Zoho’s image as a proponent of digital sovereignty, a theme also visible in its payments strategy. The company’s tools are hosted on domestic data centres and operate without advertising or user-tracking, aligning with India’s push for self-reliant digital infrastructure.
Looking Ahead
Zoho’s foray into payments follows a pattern seen across global software providers seeking to monetise business operations beyond subscriptions. However, entering a regulated financial environment also introduces new compliance and security obligations.
For Zoho, the challenge will be to maintain its reputation for privacy and stability while scaling a financial services operation that must compete on speed, cost, and trust. The company has not disclosed plans for partnerships with banks or payment networks, but executives suggested that more fintech products are in development.
