frame cut-0300
Agent of the borrower
In 2021, mapping the embedded-lending value chain, I described the embedding platform's role in three words: agent of the borrower. A vertical-SaaS pl…
2026-07-07
Operator notes on agentic payments and commerce,
served by the cut.
Coming soon
I'm Ankit - 2x Fintech Founder and Fellow in Residence at India Stack (UPI, OCEN). I'm turning my blog into this: operator notes on agentic payments and commerce, published as Cuts - one idea in ~180 words, visual primitives and more. There's a lot more on the way and a glimpse of it is below.
The cuts - newest first
principle cut-0301
The battle is won in the pixels
Four years of embedded credit distilled to one surviving rule: the lending earns the right to embed, but the battle is won in the app's user interface…
2026-07-07
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The transaction log is the credit file
Traditional lending is reactive: a business feels the squeeze, applies, and a stranger reconstructs its life from bureau files and bank statements. Em…
2026-07-07
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Four things anyone can bring to a loan
In 2021 I drew the embedded-lending value chain as nine boxes on a ladder - borrower at the bottom, lender at the top - and beside it a claim: every p…
2026-07-07
principle cut-0101
Allowances, not wallets
Give an agent a wallet and you have created a small bank with an API key. Give it an allowance and you have created something a normal person can reas…
2026-07-06
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Early to UPI, still shaped like a wallet
Before UPI, sending money to a friend in India meant wallets - Paytm, MobiKwik, FreeCharge - prepaid balances behind separate KYC walls. At Mypoolin w…
2026-07-06
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The VPA is DNS for money
UPI's quietest brilliant decision was the address. A Virtual Payment Address - name@bank - does for money what DNS did for the web: it separates the n…
2026-07-06
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The kirana test
A kirana is a one-family corner store - the unit of Indian retail. UPI won India the afternoon a kirana owner could accept digital payments with nothi…
2026-07-06
scar cut-0216
The ledger was not a moat
Post-UPI, Mypoolin finally had what we'd wanted all along: peer-to-peer and group payments with real traction, on a rail that was free, universal, ins…
2026-07-06