How would you improve Bajaj Pay UPI so that more Bajaj Finance loan customers use it for everyday payments?

Introduction

Bajaj Pay is the payments layer inside the Bajaj Finserv app: a UPI handle, a full-KYC wallet, UPI Lite for small payments, bill payments through BBPS, and recharges. Bajaj Finance has tens of millions of app installs and a customer franchise of well over 100 million, yet most of those customers open the app to check an EMI or take a loan, then go back to PhonePe or Google Pay for daily payments.

The question: how would you improve Bajaj Pay UPI so that more existing Bajaj Finance loan customers use it for everyday payments? I'll clarify the goal, segment users, map pain points along the payment journey, generate solutions, prioritise them, and define metrics.

Step 1

Clarifying Questions (5 mins)

• What does success look like: payment volume, number of active payers, or engagement?

Why it matters: Chasing volume rewards a few heavy users; chasing actives broadens habit. Hypothetical answer: Monthly active UPI payers among existing loan customers. Impact: Solutions should convert first payments and build a habit, not maximise rupee value.

• Where are we today?

Hypothetical answer: Roughly 8% of monthly active app users make at least one Bajaj Pay UPI payment a month; most of those payments are bill payments or EMI-related. Impact: The gap is in peer-to-peer and merchant QR payments.

• Can we offer cashback?

Hypothetical answer: A limited budget exists, but leadership does not want to repeat the cashback wars of 2017–2019. Impact: Prefer structural advantages over paid incentives.

• Any constraints?

Hypothetical answer: NPCI rules, market-share caps on UPI apps, and RBI guidance on credit on UPI apply. Pre-sanctioned credit lines on UPI are allowed but need careful disclosure. Impact: Credit-linked ideas are possible but must be compliant.