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Fino Payments Bank is a growing fintech company offering a diverse range of financial products and services that are primarily digital and have a payments focus. They offer such products and services to their target market, being the unserved and underserved population of Indian society through a pan-India merchant network.
They do not offer any lending products and do not hold credit risk for loans. Their product and service offering includes liability products and other banking products that generate fee and commission-based income, such as CASA, micro-ATMs and AePS transactions, domestic remittances and the issuing of debit cards.
Their unique DTP framework enables them to serve their target market efficiently and is designed to achieve improvements on three key challenges associated with serving such target market, being: (i) scale ; (ii) service; and (iii) sustainability.
They have and will continue to invest into technology throughout their business. Such investment has been made with a goal to offer an unparalleled user experience to their customers and empower their merchants to carry out more transactions.
The merchant-led model is a capital light business strategy in respect of network expansion and except for referrals of third party loan providers, they do not offer any lending products and they do not hold credit risk for loans.
The fees and commissions they charge customers can depend upon a number of factors that are, in part, within their control, which can include their overall business strategy, expenses related to a particular transaction type, the volume of transactions for a product or service or promotions etc.
Highly dependent on their information technology systems and their ability to efficiently and reliably process a high volume of transactions, as well as for certain critical functions including financial controls, risk management and transaction processing.
Cyber security risks for technology-focused companies and banking organizations have significantly increased in recent years in part because of the proliferation of new technologies, increased digitization of their products and services and the use of the internet technologies for financial transactions.
Payments banks and fintechs have been increasing their presence and reach by increasing touch points through retail outlets which have a widespread presence in India.
Higher mobile penetration, improved connectivity and faster and cheaper data speed, supported by Aadhaar and bank account penetration have led India to shift from being a cash-dominated economy to a digital one.
CRISIL Research forecasts the digital payments value in India to reach ₹ 3,500 trillion in financial year 2025 from ₹ 1,379 trillion in FY21, translating into CAGR of 25-27% between financial year FY21 and FY25. The growth in the digital transaction can be attributed to rise in smart phones and mobile internet adoption, convenience offered by digital payments, and ubiquitous availability of payment solutions
The Indian e-commerce sector has had a phenomenal run in the recent past. The sector has managed to attract consumers and has grown at a ~35% CAGR from ₹ 0.38 trillion financial year 2015 to ₹ 1.72 trillion in financial year 2020 on the back of rising internet penetration, increasing awareness of online shopping, penetration into tier 2 and tier 3 with the help of assisted model (where ecommerce firms tie up with merchants to cater customers) and lucrative deals offered by well-established players and start-ups.
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