Axis Bank Share Price Gains Over 2%; Integrates with Banking Connect Platform

NPCI Bharat BillPay Ltd (NBBL) has added Axis Bank to its Banking Connect platform, taking the total to 8 banks and 11 payment aggregators, as per news reports. This is part of the infrastructure developed under the National Payments Corporation of India (NPCI). 

Other lenders already connected include State Bank of India (SBI), ICICI Bank and HDFC Bank. The platform links banks, aggregators, and merchants through a common integration layer. 

Move Away from Fragmented Integrations 

The Banking Connect system replaces the earlier structure where payment aggregators had to enter separate arrangements with each bank. As the number of aggregators increased, this created multiple integrations for banks to manage. 

Under the new framework, aggregators connect once to a central switch. This allows access to multiple banks through standardised application programming interfaces, reducing integration timelines, and simplifying onboarding processes. 

Coverage Across Customers and Merchants 

NBBL said the integration will extend the platform’s reach to Axis Bank’s 37 million customers. These users can transact across more than 4,800 merchants already connected to the system. 

For merchants, the platform provides a uniform interface and reduces the effort required to integrate netbanking payment options. The model is intended to standardise transaction flows across participating banks. 

Features Under Development 

Additional functions are being built into the platform, including direct-to-merchant settlements and third-party verification (TPV). Mandate and lien capabilities are also under development. 

These features are expected to support use cases involving recurring payments, verification requirements and higher transaction volumes, particularly for larger businesses and platforms. 

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Axis Bank Share Price Performance  

As of April 10, 2026, 9:54 am, Axis Bank Ltd share price was trading at ₹1,348.90, up 2.31% from the previous closing price. 

Conclusion 

The addition of Axis Bank increases the scale of the Banking Connect platform and expands its user base. The system continues to consolidate netbanking integrations into a single framework, reducing the need for multiple connections between banks and payment aggregators. 

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