Can you tell us your journey into this market?

Airpay was founded in 2012 with a single-minded objective - we wanted to simplify financial transactions for consumers, businesses and partners. We have designed and developed our technology platform in-house. We are 100% made in India payment platform. We started our journey by solving payment collection problems between consumers and businesses. Eventually, we added capabilities for businesses to pay their vendors. When this pandemic spread in India in March 2020, we realized the need of the hour was to support our fellow citizens and help the Government of India provide financial support to the people in need. We quickly built and launched our financial inclusion platform – Airpay Vyaapaar. This platform empowered local grocery stores into a Bank Branch by downloading a simple mobile application – nothing els

Congratulations on being recognized among top Fintechs in India! Can you share with us what features of your solution led to this achievement?

Thank you. It is very hard to pinpoint specific features that have helped us achieve this goal. I believe our obsessive focus on our customers and their consumer needs has helped us grow. Also, the fact that the platform was built in-house allowed us to adapt to our customer needs quickly and efficiently. We call ourselves a fintech, however, everything we do and implement is assuming that we are business owners first. We are constantly asking ourselves if we ran this business - what are my pain points? Where are my overheads? Where can I improve my operational performance? Am I running my business at peak performance? All these traits have led us to be leader

What is the Digital innovation in technology according to you that will mark 2021 and years to come?

I believe digital innovation is easy. Adoption is difficult. In my opinion, Jan Dhan Yojana and Aadhar based financial services in the innovation of the century. It has dramatically brought down the cost of delivering services at the last mile. We are now able to provide INR 50,000 / month of term insurance at a premium of INR 20. The scale it has given us is unprecedente

What are the major developments you are planning, in recent time?

We have a lot of new financial services in our pipelines. Our focus is to provide sachet-based saving schemes like insurance, gold savings and other investment tools. We firmly believe that middle India should have access to quality financial tools on their terms

Can you tell us about your team and how it supports you?

I have been blessed with a terrific team of leaders – each bringing a unique perspective to Airpay. Through this lockdown, each one of us has been tested. Our assumptions challenged and our capacities stretched. However, each and every member of the Airpay family has flourished. We have not started multiple new offices – in India and in International markets - but have also doubled our workforce. All this has been possible because of open communication and clear focus.

Can you explain how the integration of existing platforms of organizations such as Mudra with airpay can bring a major change to their operational excellence?

Through the airpay vyapaar platform we have enabled various payment services for Mudra like seamless transaction flow through Net banking, Debit Card, UPI and RTGS/NEF

The Mudra platform has enabled account opening, savings through fix deposit creation and recurring deposit schemes for its consumers hence leading to paperless transactions with best in class safety features. This has improved the TAT (turnaround time) thus leading to faster reconciliation at the backend and smoother issuance of the statement

Airpay vyapaar provides a platform that extends the reach of banking and financial services at minimal operational overheads

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