Fintech start-ups tap small-town users

Deeper Internet penetration and a digital boost from the government has helped fintech companies find a larger audience across the country

Paynear, a fintech start-up, has more users in small towns than in the metros. The Hyderabad-based firm, which provides a platform to traders for accepting digital payments, has seen a surge in growth from small towns. Of its 50,000 merchants, two-thirds are in small towns.

A certified GST Suvidha Provider, Paynear allows traders to pay taxes online, which, it says, plugs a gap. “Small-town business people struggle with resources. We have built a platform that removes the hassles. This has helped us grow,” said Prabhu Ram, managing director and group chief executive officer, Paynear.

A report by integrated solutions provider Instamojo noted