Airtel Payments Bank now has over one billion transactions on its platform during September quarter 2021-2022, sources say.
This represents around 61% of its year-over-year growth in transaction volume.
This, the report says, has shown the strength of Airtel’s digital-first model and its distribution of more than 5 million banking points, allowing it to scale up rapidly.
The growth in transaction volume has been sustained by a widespread pandemic-fueled switch to digital payments.
Growth is also spurred by new digital product offerings allowing for UPI-based payments, bill and utility payments, mobile and DTH recharges and its set of retail solutions.
The report says Airtel has been one of the fastest-growing banks. It now has more than 115 million users around India and over 8 million merchants.
The company’s goal is to add more digital inclusion for users.
“Airtel Payments Bank is able to offer its solutions to both the urban digital and the rural underbanked customer,”…
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