“Can Zoho convert its 80M-user SaaS ecosystem into an all-in-one business operating system by embedding payments, banking, lending, and spend management directly into its existing apps?”
Founded in 1996 as a network management software company, Zoho pivoted in the mid-2000s to become a broad-based cloud SaaS suite targeting SMBs and mid-market companies. Over the following decade it built 80+ applications spanning CRM, accounting, HR, and collaboration. Beginning around 2024, Zoho began embedding financial products directly into its software ecosystem — launching Zoho Payments (acquiring), Zoho BillPay (AP automation), and Zoho Connected Banking — transforming from a pure SaaS vendor into a horizontal SaaS platform with embedded finance rails.
Zoho processes payments through Zoho Payments (self-operated). Disclosed money-movement rails: UPI.
Zoho's lending and capital products are provided by TreviPay.
Zoho integrates with QuickBooks, Xero and Zoho Books (native).
The Embedded Finance Index 2026 maps 6 layers in Zoho's stack: Payments / PSP (Zoho Payments (self-operated)); Money movement (UPI); Lending (TreviPay and BNPL via TreviPay integration for Zoho Creator (third-party)); Unified APIs (Codat, Rutter and Apideck); Accounting (QuickBooks, Xero and Zoho Books (native)); Transaction enrichment (Astrada).
Zoho is founded in 1996 and headquartered in Chennai (Chengalpattu), Tamil Nadu, India.
Get a read on where your own stack stands against Zoho and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.