Demonetisation drive is a good development for payments banks
The demonetisation of ₹500 and ₹1,000 currency notes has come as a booster for digital wallet players. While there are a number of entities in the digital payments space, Rishi Gupta, MD and CEO of Fino Paytech, spoke to BusinessLine about why the company has an edge over many others in this segment. Fino is also a banking business correspondent (BC) and runs an NBFC-MFI with a portfolio of ₹400 crore.
FINO PayTech was chosen by UIDAI to demonstrate the tech enabled payment mechanism at the national launch of Aadhaar-based service delivery.