Page 2 - Airtel Payments Bank

Airtel Payments Bank revenue grows 41% to Rs 400 cr in Q1, profit up 143%

Airtel Payments Bank on Thursday said its revenue witnessed a year-on-year growth of 41 per cent to Rs 400 crore in the first quarter ended June 30, 2023. The unlisted entity of Bharti Group said that its profit grew by 143 per cent on a year-on-year basis without disclosing the actual number. "For the first time, the Bank's quarterly revenue grew to Rs 400 crore for the first quarter (Q1) of financial year (FY) 2024, an increase of 41 per cent YoY. For the Q1'FY24, the Bank's profits grew by 143 per cent on YoY," the company said in a statement. The customer deposits at Airtel Payments grew to Rs 1,922 crore and it now has 5.54 crore monthly transacting users, an annualised gross merchandise value (GMV) of Rs 2,381,00 crore and revenue of over Rs 1,600 crore on an annual basis, the statement said. "For the first time, our revenues have surged to INR 400 crore. Our brand's reliability and cutting-edge product offerings, combined with an unparalleled distribution network and advance

Airtel Payments Bank launches r-PVC-based eco-friendly debit card

Producing these eco-friendly debit cards will also diminish petroleum consumption during manufacturing, cutting hydrocarbon usage by 43 per cent

Expanding banking points, product lines, debit cards in rural areas: Airtel

Airtel Payments Bank is experiencing "strong tailwinds of demand", and will grow its banking points and deepen product offering range this year, as it looks to raise customer count and average realisation per user, according to CEO Anubrata Biswas. Airtel Payments Bank will also launch its physical debit card for rural banking consumers in September quarter (Q2FY24), having launched it already in urban markets. "We are experiencing strong tailwinds of demand, and keeping our focus on consumer choice, sustainable model and costs...The opportunity is limitless as long as we stay focused on solving consumer needs and problems," Biswas told PTI. The payments bank has grown by a CAGR of 35-40 per cent between mid 2018 and mid 2023, and expects to close the June quarter (Q1) with an annualised run rate of Rs 1,600 crore. "Today our Average Revenue Per User (ARPU) is in low 20s (in rupee terms), and as our product penetration increases, and cross-sell efforts increase, our ARPU will go up

Airtel Payments Bank's FY23 profit rises over two-fold to Rs 21.7 crore

Airtel Payments Bank on Thursday said that its profit has more than doubled to Rs 21.7 crore in the financial year 2022-23. The company had posted a profit of Rs 9.2 crore in 2021-22. The revenue of Airtel Payments Bank grew 37 per cent to Rs 1,291 crore in the fiscal year 2022-23 from Rs 941 crore in the FY22. "This year has been a stellar year in our growth journey. Our trusted brand and innovative products, backed by unmatched distribution reach and technology, position us well to accelerate our growth further. Our strong performance is a validation of the payments bank model and its role in serving the digital and financial inclusion needs of the country," Airtel Payments Bank MD and CEO Anubrata Biswas said in a statement. Airtel Payments Bank said that it registered a 19 per cent quarter-on-quarter (Q-o-Q) growth in the January-March 2023 period with revenues of Rs 379 crore. The Bank now has 54.7 million monthly transacting users and a gross merchandise value (GMV) of Rs ..

Airtel Payments Bank partners NPCI to roll out face authentication for AePS

Airtel Payments Bank on Tuesday said it has collaborated with the National Payments Corporation of India (NPCI) to roll out face authentication for the Aadhaar-enabled Payment System at its 5 lakh banking points. Airtel Payments Bank is among the first four banks to offer face authentication for AePS (Aadhaar-enabled Payment System). "We are delighted to collaborate with NPCI to offer this new facility to our valuable customers. Face authentication is an important addition to our existing bouquet of secure and simple banking solutions to drive financial and digital inclusion in the country," Airtel Payments Bank COO Ganesh Ananthanarayanan said in a statement. NPCI's AePS allows customers to carry out financial and non-financial transactions at any banking point using their Aadhaar number or virtual ID to access their Aadhaar-linked bank account. Until now, transactions were being authenticated using the customer's Aadhaar number and fingerprint or Iris match in the UIDAI records.

Paytm advances 5% on report that Sunil Mittal is eyeing stake in company

Meanwhile, Ant Group Co. is considering selling some of its shares in the operator of Indian financial technology firm Paytm to keep its holding within a required threshold, the Bloomberg reported

DMRC, Airtel Payments Bank to provide another smart card top-up facility

Delhi Metro has partnered with Airtel Payments Bank to provide one more smart card top-up facility to commuters, officials said on Sunday. This new initiative is focused on contributing to the government's vision of Digital India and financial inclusion by taking digital transaction services to the doorstep of every Indian, the DMRC said in a statement. The top-up facility of Delhi Metro's smart cards will now be possible through Airtel Payments Bank, it said. This new facility will be of great convenience to the commuters since this will allow them to use one more reliable option to recharge their smart cards through their mobile phones, the statement said. The transactions will be completely safe and the card or internet banking details will be saved only once by the app. Recharge through this facility will be fast and convenient, it added.

BS BFSI Insight Summit 2022: Meet the leaders of digital, payments banks

From Airtel Payments Bank's COO Ganesh Ananthanarayanan to Parag Rao, Country Head for Payments Business, Consumer Fin, Digital Banking at HDFC Bank, here are panelists from digital & payment banks

Airtel Payments Bank to install 150,000 micro ATMs this fiscal year

Airtel Payments Bank has started rolling out 1.5 lakh micro ATMS in a phased manner across tier 2 cities and semi-urban regions to facilitate cash withdrawal for its customers, the company said on Wednesday. The Bank will gradually expand its service to cover more banking points in a phased manner. "Micro ATMs will be rolled out in a phased manner. Initially, the bank will place 1,50,000 units in Tier II cities and semi-urban regions. These regions typically have a high demand for cash withdrawal services but limited access to ATMs," the company said in a statement. The bank will leverage its strong network of over 5 lakh banking points across India to give users access to easy cash withdrawals through this initiative, it added. The company has plans to finish the rollout of 1.5 lakh micro ATMs by the end of the current fiscal. Airtel Payments Bank is now integrated with the National Payments Corporation of India's (NPCI) - National Financial Switch (NFS) to facilitate micro ATM .

Airtel Payments Bank partners with Muthoot Finance to offer gold loans

Airtel Payments Bank on Thursday said it has partnered with Muthoot Finance to offer gold loans through Airtel Thanks app. There will be no-processing charge on the loan and Muthoot Finance will provide up to 75 per cent of the pledged gold value as a loan, the payments bank said. "Gold Loans are secured loans that can be availed to cater to a variety of needs, from personal to professional. We are delighted to partner with Muthoot Finance to offer easy access to Gold Loans through Airtel Thanks App," Airtel Payments Bank chief operating officer Ganesh Ananthanarayanan said in a statement. The loan facility will also be available at the 5 lakh banking points for Airtel Payments Bank, it added. "The partnership will give access to secured and affordable credit to customers looking for quick liquidity against their gold assets. We are happy to serve an extensive range of customers across various geographies and ticket sizes," Muthoot Finance joint managing director Alexander George .

Airtel Payments Bank customers' deposit surges 75% to Rs 1,000 cr in 2021

Money deposited with Airtel Payments Bank surged 75 per cent to Rs 1,000 crore in 2021 as compared to the previous year, a top company official said.

Airtel Payments Bank, Park+ tie up to offer FASTag-based parking solutions

Airtel Payments Bank on Thursday announced a collaboration with Park+ to offer FASTag-based smart parking solutions to marquee commercial and residential properties across the country. The partnership aims to leverage the distribution reach and digital payments stack of Airtel Payments Bank to digitise the parking ecosystem using FASTag associated with the vehicle, the company said in a statement. Park+ operates in the area of automating parking spaces through FASTag and the majority of parking FASTag transactions in India are currently being processed through Park+ systems. Park+ will offer its full suite of FASTag services including issuance, acquiring, recharge, and technology support to Airtel Payments Bank. Airtel Payments Bank is among the top five issuers of FASTag in the country, the statement said adding that customers can purchase a FASTag in a matter of a few clicks from the banking section of the Airtel 'Thanks App'. Park+ access control systems are installed at more t

Airtel Payments Bank gets permission to function as scheduled bank from RBI

Airtel Payments Bank is among the fastest-growing digital banks in the country, with a base of 115 million users

Airtel Payments Bank surpasses 1 billion transactions mark in Q2

Airtel Payments Bank crossed one billion transactions volume milestone on its platform during September quarter 2021-22, according to sources

Airtel to lean on its 180 mn digital users to propel payments bank business

Airtel Payments Bank has a customer base of around 115 million with a monthly transacting user base of 31 million

Airtel Payments Bank sees surge in biz, hopeful of break-even in FY22

Airtel Payments Bank has seen a surge in business volumes in FY21 as lockdown curbs spurred new accounts as well as transactions, and company is eyeing a break-even this fiscal, a top official said

Bharti Airtel rejigs corporate structure to sharpen focus on digital

Airtel Payments Bank will remain a separate entity under Bharti Airtel; all of Airtel's infrastructure businesses will continue to remain as separate entities

Airtel Safe Pay provides three-layer safety for a fraud-proof future

With Airtel Safe Pay transactions, money gets debited only after subscriber's nod

Airtel Payments Bank rolls out 'Suraksha salary account' for MSMEs

Through this innovative account construct, MSMEs and other organisations will be able to make cashless payments and also provide a financial security blanket to their employees," the bank said.

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