ZET (Previously OneCode)

What ZET (Previously OneCode) does

ZET Technolabs Private Limited, operating as ZET (formerly OneCode), is a Bengaluru-headquartered fintech founded in April 2019 by Manish Shara (CEO) and Yash Desai (COO). The company runs a mobile-first credit-building platform that issues fixed-deposit-backed secured RuPay credit cards — branded as the SBM ZET, DCB ZET, and IOB ZET cards through partnerships with SBM Bank India, DCB Bank, and Indian Overseas Bank — targeting first-time credit users, individuals with low or damaged scores, and underserved consumers in Tier-II and Tier-III cities. Users open an FD starting at ₹2,000, receive a credit limit of 90% of the FD amount (capped at ₹10 lakh), and have usage reported to Experian to build a credit score toward 750+.

The platform's technical architecture combines a TPAP-licensed UPI rail (powered by Juspay with RBL Bank as the banking partner) that allows the secured cards to be used for QR-code payments, Experian bureau integration for credit reporting, and an NBFC licence acquired in September 2025 that positions ZET for direct credit origination. Supporting products include ZET Plus (a ₹49–₹99/month subscription offering 2% UPI cashback, cyber fraud insurance, and dark-web monitoring), ZET Fixit (credit-report error resolution), and a marketplace routing users to short-term personal loans (₹500–₹5,000, 18–36% APR) from five lending partners.

ZET operates a freemium, product-led growth model with a free core card and monetisation across five streams: ZET Plus subscription fees, UPI interchange, FD interest spreads, lending partner referral fees, and short-term loan origination economics. Distribution is 100% digital through iOS/Android apps (4.6 and 4.5 store ratings) and zetapp.in, supported by content marketing, social media, and customer testimonials. The company reports 10 lakh+ users across 15,000+ PIN codes and targets UPI transaction volume of approximately ₹100 crore per month, with backing from Sequoia Capital India's Surge, Nexus Venture Partners, and prominent fintech founders.

Name

ZET (Previously OneCode)

Legal name

ZET Technolabs Private Limited

Website

https://zetapp.in

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

101–250 employees

Short description

ZET is a Bengaluru-based fintech that issues FD-backed secured credit cards via banking partners (SBM, DCB, IOB) and a TPAP-licensed UPI rail, helping first-time and underserved Indian consumers build a 750+ credit score through mobile-first, zero-documentation onboarding.

Ownership category

akta.pro rank

Product category

Consumer Credit Cards

NAICS

Credit Card Issuing (522210), Credit Card Issuing (52221)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)

Keywords

• FD-backed credit cards
• Credit score building
• UPI credit payments
• Secured credit products
• Financial inclusion services

Headquarters

HQ city

Jaipur

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. ZET Plus Subscription: Premium subscription service offering flat 2% cashback on ZET UPI transactions, zero convenience fees on voucher purchases, lifetime validity on ZCoins, real-time credit bureau alerts, cyber fraud insurance, and dark web monitoring. Available at ₹99/month (Gold tier) or ₹49/month (Silver tier), with daily option at ₹3/day.
2. UPI Transaction Fees: ZET earns interchange fees on UPI transactions made through its platform using credit cards. The company scales UPI transactions targeting approximately Rs 100 crore per month with around 10 lakh user base.
3. Fixed Deposit Interest Spread: ZET generates revenue from the spread between interest earned on customer fixed deposits (up to 7%) and the cost of funding. The FD serves as both collateral for credit and a revenue-generating product.
4. Lending Partner Referrals: ZET facilitates loans from lending partners including NSMK Investments, Meghdoot Mercantile, Mpokket Financial Services, Krazybee Services, and FDPL Finance, earning referral fees or revenue share on successful loan disbursements.
5. Short-term Loans: ZET offers short-term personal loans from ₹500 to ₹5,000 at APR 18%-36% p.a. with tenure of 3-6 months, primarily to add positive credit activity and boost credit scores.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

ZET is a financial inclusion fintech platform that issues FD-backed secured credit cards to first-time and underserved credit users in India. Users open a Fixed Deposit (starting at ₹2,000) which sets a credit limit at 90% of the FD amount, earns up to 7% interest, and requires no income proof. The card is integrated with UPI payments (ZET UPI) and is offered in partnership with multiple banks (SBM Bank, DCB Bank, Indian Overseas Bank) under co-branded variants.

Product overview

ZET is a financial inclusion platform that offers a unified suite of credit-building products centered on its FD-backed secured credit card. The core product is the ZET FD Credit Card, issued through multiple banking partners (SBM Bank India, DCB Bank, and Indian Overseas Bank) as branded variants (SBM ZET Credit Card, DCB ZET Credit Card, IOB ZET Credit Card). Users open a Fixed Deposit (starting at ₹2,000) which sets their credit limit at 90% of the FD amount, earns up to 7% interest, and requires no income proof — enabling first-time credit users to build a 750+ credit score. ZET UPI (powered by Juspay, via RBL Bank) enables these credit cards to be used for UPI payments, with ZET Plus subscribers earning flat 2% cashback. Add-on modules include ZET Fixit (credit report error resolution) and ZET Personal Loans (short-term loans via lending partners). The ZET Plus subscription at ₹3/day adds premium rewards and fraud protection. ZET reports card usage to Experian (primary bureau) and supports disputes across CIBIL, Equifax, and CRIF High Mark.

Differentiator

Problem solved

Functional benefit

Brands

• ZET FD Credit Card: FD-backed secured credit card that helps users build a 750+ credit score without requiring income proof or prior credit history
• SBM ZET Credit Card
• DCB ZET Credit Card
• ZET Plus
• ZET Fixit
• ZET UPI

Products and services

• ZET FD Credit Card An FD-backed secured credit card that allows users to build a 750+ credit score without income proof or prior credit history. Users book a Fixed Deposit (starting at ₹2,000) which serves as collateral; the credit limit is set at 90% of the FD amount. The card is lifetime-free with no annual or hidden fees, supports UPI payments, and the underlying FD earns up to 7% interest annually.
• SBM ZET Credit Card An FD-backed secured credit card issued in partnership with SBM Bank India. Same core features as the ZET FD Credit Card: FD starting at ₹2,000, no income proof required, lifetime-free, ZET UPI support with flat 2% cashback for ZET Plus subscribers.
• DCB ZET Credit Card An FD-backed secured credit card issued in partnership with DCB Bank. Offers the same core features as the SBM ZET Credit Card: FD-backed approval, no income proof required, lifetime-free, UPI payments, and cashback rewards on everyday spending.
• IOB ZET Credit Card An FD-backed secured credit card issued in partnership with Indian Overseas Bank (IOB). Mirrors the features of the SBM ZET and DCB ZET cards, providing first-time credit users an entry point into the formal credit system with guaranteed approval and no income proof.
• ZET UPI A UPI payment functionality that enables ZET FD Credit Card holders to make UPI payments using their RuPay credit card. ZET operates as a Third-Party Application Provider (TPAP) under an NPCI licence. ZET Plus subscribers earn flat 2% cashback on all ZET UPI transactions. Infrastructure is powered by Juspay with RBL Bank as the banking partner.
• ZET Plus A premium subscription (Gold at ₹99/month and Silver at ₹49/month, also available at ₹3/day) that enhances the ZET FD Credit Card experience. Benefits include flat 2% cashback on ZET UPI transactions, zero convenience fees on voucher purchases, lifetime validity on ZCoins with a 2,000 monthly cap, real-time credit bureau alerts, cyber fraud insurance, and dark web monitoring.
• ZET Fixit A credit report error resolution tool within the ZET app that scans credit reports for inaccuracies (unrecognised accounts, fake loans, incorrect payment remarks, closed accounts listed as active), guides users through the dispute process step by step, and tracks status until resolution. Most disputes are corrected within 30–45 days.
• ZET Personal Loans Short-term personal loans facilitated through ZET's lending partners, ranging from ₹500 to ₹5,000 with APR of 18%–36% p.a. and tenure of 3–6 months. Designed to add positive credit activity and give users' credit scores a further boost.
• ZET Credit Score Monitoring A credit score monitoring feature accessible through the ZET app, displaying users' Experian credit score and report. Users receive regular score updates based on their ZET FD Credit Card usage and repayments. The service also provides educational resources, personalised insights, and credit-building tools to help users understand and improve their scores.

Quantifiable outcome

• 100% of first-time users reach a 750+ credit score within 45 days to 6 months of responsible usage
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core and supporting.

• Indian Overseas Bank (IOB)coreTechnology or Integration · 1 January 2026Indian Overseas Bank is a banking partner for the IOB ZET Credit Card. IOB was founded in 1937, nationalized in 1969, with 4 crore+ customers and 3,400+ branches and offices including international presence in 4 markets.
• RBL BankcoreTechnology or Integration · 1 January 2026RBL Bank serves as the banking partner for ZET's UPI infrastructure, enabling credit card payments through the UPI ecosystem.
• JuspaycoreTechnology or Integration · 1 January 2026Juspay powers ZET's UPI infrastructure, providing the technology stack for processing UPI credit card transactions securely and at scale.
• DCB BankcoreTechnology or Integration · 1 November 2025DCB Bank is a banking partner for the DCB ZET Credit Card. DCB Bank is a scheduled commercial bank regulated by RBI, operating since the 1930s with 25 lakh+ customers and 468 branches across India.
• SBM Bank IndiacoreTechnology or Integration · 1 April 2025SBM Bank India is the primary banking partner for the SBM ZET Credit Card. The partnership enables FD-backed credit card issuance, UPI payments, and banking infrastructure. SBM Bank has 50 lakh+ customers across 16 branches in India and is one of the fastest-growing banks in the country.
• ExperiancoreTechnology or IntegrationExperian is ZET's primary credit bureau partner. ZET reports user payment behaviour to Experian for credit score calculation. The ZET app displays Experian credit scores to users.
• NSMK Investments Pvt LtdsupportingOthersNSMK Investments is one of ZET's lending partners providing personal loans through the platform. Mr. Mohan serves as the grievance officer.
• Meghdoot Mercantile Private LimitedsupportingOthersMeghdoot Mercantile is a lending partner offering short-term personal loans (₹500-₹5,000) at APR 18%-36% p.a. Mr. Shrey Dahlan is the contact person.
• Mpokket Financial Services Private LimitedsupportingOthersMpokket Financial Services is one of ZET's lending partners. Mr. Raktim Addya is the contact person.
• Krazybee Services Private LimitedsupportingOthersKrazybee Services is a lending partner on the ZET platform. Mr. Sauraw Kumar serves as the contact person.
• FDPL Finance Pvt LtdsupportingOthersFDPL Finance is a lending partner on the ZET platform. Ms. Vaishnavi Batulkar is the contact person.

Scale indicators6 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• OneCard: Indian fintech issuing metal credit cards (FD-backed and co-branded variants) targeting first-time and under-served credit users. Closest direct competitor to ZET in the secured-card-for-credit-building niche with overlapping FD-collateral mechanics.
• Slice (formerly SlicePay): Indian credit-card fintech offering credit lines and physical cards to young, under-served users. Competes directly with ZET in targeting first-time credit builders, with similar value proposition around credit access without traditional documentation.
• Uni Cards: Indian credit-card fintech offering 1-click and 5X rewards credit cards targeting young professionals and first-time cardholders. Directly comparable product category and customer segment to ZET's FD-backed offering.

Broad incumbents

• CRED: India's largest premium credit-card management and rewards platform with hundreds of millions in funding. Operates in adjacent credit-card ecosystem but targets high-credit-score users rather than ZET's first-time-credit base.

Emerging players

• Jupiter: India-focused neobank targeting salaried and under-served segments with savings, payments, and credit features. Overlaps ZET's demographic targeting with broader banking ambitions and a founder (Jitendra Gupta) who is also a ZET investor.
• FamPay: Indian fintech offering prepaid cards and UPI accounts to teenagers and young adults. Adjacent in targeting India's young, under-banked demographic, with overlap on UPI-led card experiences.
• Niyo: Indian digital banking platform offering savings accounts, cards, and travel-focused financial products. Comparable in addressing under-served segments through digital-first banking partnerships.
• KreditBee: Indian digital lending platform offering personal loans to salaried and under-banked individuals. Operates in adjacent small-ticket credit space; its CEO (Madhusudan E) is also a ZET investor and backer.
• mPokket: India-based lender for college students and young professionals offering small-ticket personal loans. Comparable in serving under-banked borrowers with limited credit history and is also an existing ZET lending partner.
• LazyPay: Indian BNPL and short-term credit provider under PayU, targeting under-served and young consumers. Overlaps ZET's short-term lending partner model and under-banked credit access positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@zet_india
• Facebookfacebook.com/zetapp.in
• LinkedInlinkedin.com/company/zetapp-in
• Instagraminstagram.com/zet_india?
• Xx.com/GetOneCode

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds3 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ZET (Previously OneCode)