The Airtel Payments Bank surpassed one billion transactions milestone on its platform during the second quarter. With annualized revenues of over Rs 1,000 crore, the bank turned profitable in September quarter.
The growth has been driven by the assimilation for its diversified digital product offerings UPI based payments, FASTag, bill and utility payments, and mobile and DTH recharges as well as its set of retail solutions.
Anubrata Biswas, CEO of Airtel Payments Bank said, “Airtel Payments Bank is able to offer its solutions to both the urban digital and the rural underbanked customer. Our products are user-need focused and designed to bring millions of users in the ambit of digital banking.”
Airtel Payment Bank’s digital banking solutions allow users to open a bank account in five minutes using video KYC, make secure payments using Safe Pay and get benefits with the ‘Rewards123’ programme.
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