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Setu promotes Richa Chourasia to business head – UPI payments
Payments executive takes charge of UPI business as Setu scales merchant and NPCI partnerships
BENGALURU: Setu is making a fresh move in the fast lane of digital payments. The fintech firm, now part of Pine Labs, has promoted Richa Chourasia as business head of UPI payments, expanding her responsibilities as the company looks to strengthen its position in India’s rapidly evolving payments ecosystem.
Announcing the promotion on LinkedIn, Chourasia said she was “excited” to take on the new role, describing it as an opportunity to help shape the next phase of UPI’s growth in India.
As business head, she will lead Setu’s UPI payments business, overseeing its strategic relationship with the National Payments Corporation of India (NPCI), expanding merchant collections and payout platforms across industries, bringing new NPCI-led payment products to market, and scaling the company’s UPI infrastructure through the Setu UPI Switch.
In her post, Chourasia said the role places her “at the intersection of innovation, scale, and reliability”, adding that she looks forward to helping businesses adopt the next generation of payment capabilities.
She also thanked her leadership team, including Ramkumar Thirumurthi and Prakhar Jain, along with colleagues, customers and her family for their continued support.
Chourasia joined Setu in July 2025 as lead for UPI product sales, solutioning, NPCI and bank partnerships, bringing extensive experience in banking alliances and enterprise payments.
Before joining Setu, she spent more than four years at Cashfree Payments, where she most recently served as director of banking alliances and partnerships. During her tenure, she led partnerships with banks, built merchant referral programmes, drove API-based merchant onboarding, and worked closely with financial institutions and enterprise clients to expand digital payment solutions.
Earlier in her career, she held leadership roles at Jio, HSBC and YES BANK, building expertise in enterprise sales, transaction banking, cash management and relationship management.
An alumna of Indian Institute of Management Indore, Chourasia brings over a decade of experience across banking, fintech and digital payments.
Her elevation comes at a time when UPI continues to see rapid adoption across consumers and businesses, with fintech firms increasingly investing in merchant infrastructure, payment innovation and strategic partnerships to support the next wave of digital transactions.
