Fino Payments Bank brings digital banking closer

Fino Payments Bank has announced the launch of digital services suite. This allows Fino to expand its footprint in the exciting space of digital banking and payments. 

In September 2017 Fino launched its mobile banking app BPay, which will be the key driver for digital transition of customers from assisted to self-service mode.

The app will make smartphones the new banking points, allowing customers to make bill payments, recharges, fund transfers, buy insurance, put up gold loan requests and many more savings and investment related services that would be added over period of time.

In addition to BPay, Fino Payment’s Bank introduces a suite of digital products that include Unified Payments Interface (UPI), BHIM app, game changer in P2P and merchant payments. Customers can access UPI, create virtual identity and make P2P payments through the bank’s BPay mobile banking app. It also offers net banking, digi savings account and FasTag, where customers can make digital payments at national highway toll plazas.

"Digital is an integral part our Phygital strategy and the way forward for banking," said Rishi Gupta, MD and CEO, Fino Payments Bank, while announcing the launch of digital service suite. 

“The changing landscape is opening up digital banking opportunities outside of metros, including from Tier III to Tier VI places," he added.

As per a recent report by Credit Suisse, payments integration into popular apps in India will drive digital payments market to $1 trillion by 2023 from the current $200 billion.