Fino Payments Bank sees an opportunity in the digital banking space after Paytm Payments Bank s exit. To capitalise on this, they re ramping up their digital offerings, aiming to grow their digital revenue share from 5-6% in FY24 to 15% this fiscal year. Since December, Fino has deployed around 14,000 QR codes which reported 300,000 transactions valued at Rs 33 crore.
In the last one year, Fino Payments Bank has given 23.4% returns, slightly outperforming the Nifty 50. But looks like the market has now fully priced in its growth potential post conversion to a small finance bank.
Payment banks can do much more in India, by leveraging the large user base and reach, particularly with the increase in the number of users from Tier 2 and 3 cities, says Biswas.