HDFC Bank’s mobile app PayZapp has won the esteemed Celent Model Bank Award, highlighting its prowess in payment innovation.
The accolade was bestowed upon PayZapp in the Payment Innovation category at the prestigious Celent Model Bank Awards ceremony, which recognises exemplary practices in technology utilisation within the banking sector.
PayZapp emerged victorious among 19 winners selected from over 140 nominations spanning 36 countries worldwide.
The judging criteria for this prestigious award encompass demonstrable business benefits, the level of innovation relative to the industry, and technological excellence.
Commenting on the achievement, Ravi Santhanam, Group Head, Chief Marketing Officer & Head – Direct to Consumer Business, HDFC Bank, said, “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.”
Jointly developed by Zeta and HDFC Bank, PayZapp leverages Zeta’s cutting-edge processing platform, Zeta Tachyon, and its tailored engineering offering, Zeta Studios.
Ramki Gaddipati, CTO & Co-Founder, Zeta, added, “Zeta is honoured to have played a pivotal role in PayZapp’s success. A Zeta Studio, in partnership with HDFC Bank’s talented & 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.”
Since its inception in March 2023, PayZapp has swiftly amassed a user base exceeding 6 million customers.
Notably, it has garnered commendable ratings from nearly half a million users, boasting a rating of 4.8 on iOS and 4.3 on Android platforms.
This exceptional user feedback has positioned PayZapp as a top-rated app in the Finance section on Indian app stores.
