Medilytix Desk :
Airtel Payments Bank surpassed the one billion transactions volume mark on its platform during the September quarter of FY22.
This constitutes around 61% year-on-year (YoY) growth in transaction volume per quarter, highlighting the bank’s digital-first model and distribution of more than 5 lakh banking points that give it the ability to expand swiftly.
For Airtel Payments Bank, the rise in transactions volume has been steady following the big pivot amid the COVID-19 pandemic as customer preference for digital payments increased, a source told PTI, adding that the company recently surpassed the one billion transactions per quarter mark.
The growth has been impelled by uptake 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, the source added.
When contacted, Anubrata Biswas, CEO of Airtel Payments Bank told the news agency, “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.”

Leave a Reply

Your email address will not be published. Required fields are marked *