Groww, the financial investment platform, has introduced a payments feature on its broking app to expand its financial services offerings. The platform is utilising the unified payments interface (UPI) infrastructure, which allows users to make peer-to-peer payments and payments to merchants by scanning their QR codes. The feature has been rolled out to users over the past few days. Groww is a third-party payment app on UPI, operated by the National Payments Corporation of India. The platform also offers bill payment services, including loan and credit card repayments, electricity and water bill payments, and DTH recharges. This move comes after Groww started offering instant personal loans earlier this year, becoming a non-banking finance company (NBFC). The Reserve Bank of India has also given Groww an in-principle approval for a payment aggregator licence. Stock broking platforms like Groww are expanding their services to credit and payments to retain and attract users. Groww currently has over 5 million active traders and 10-15 million investors. By offering UPI-based transactions, Groww can retain its active user base and gain new users in a declining retail participation in shares market. The move towards UPI services will not only help Groww, but also licensed credit fintechs, as the service is expected to extend to NBFCs in the future, leading to more loan disbursals.