Spice Money sees 1.2 cr transactions worth Rs 2,400 cr in April

Fintech firm Spice Money Wednesday said it carried out 1.2 crore transactions during April and achieved gross transactional value (GTV) of Rs 2,400 crore as it aims to deepen its footprint in the country.

Spice Money is a tech-enabled hyper-local payments player offering cash-in and cash-out, bill payments and mPoS (mobile point-of-sale) services, among others.

"Spice Money achieved a feat of carrying out 12 million transactions within the month of April. The transactions generated a massive Gross Transactional Value (GTV) of Rs 2,400 crore, firmly establishing Spice Money as a preferred platform to carry out financial transactions for the unserved and underserved population in the country," the company said in a release.

Spice Money has introduced new product offerings and enriched existing ones to further its goal of extending digitised transactional benefits to a large section of people, it added.

"We hope to expand our footprint even deeper in India and serve as the bridge between the served and the un-served, providing financial services to every individual with limited accessibility," said Dilip Modi, chairman, Spice Money.

The company, in addition to its Aadhaar-based payment system, has added a Mini-ATM feature that enables users to carry out debit-card based transactions.

Spice Money has also partnered with service providers such as Yatra for travel-related transactions.

The company has "dense footprints" in states like Bihar, Jharkhand, Madhya Pradesh, Rajasthan, Chhattisharh and Uttar Pradesh, it added.