Payments banks deliver timely dose of good news

Payments banks deliver timely dose of good news

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Pratik Bhakta

158 reads
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Pratik Bhakta

158 reads

The Crux newsletter this week. Everyone wants the service of digital payments, but few want to foot the charges. That leaves companies without a healthy revenue line. Now, the results of payments banks Paytm and Fino offer hope that a sustainable business can be built

September 16, 2022

3 MINS READ

India’s digital payments space has been on a tear for the past few years. Users and transactions have been climbing rapidly. Generating revenue, however, has been a stubborn challenge for startups.

To keep users coming back, they have relied on discounts and cashbacks, which hurt toplines. Not to mention, the approach is unsustainable. Players such as PhonePe, Paytm and BharatPe have introduced allied financial services (lending, insurance, etc) to net some cash.

Better days ahead: Now, as the sector shows signs of stability and companies find their sweet spots, the core payments business itself is producing healthy revenue. The FY22 financials reported by listed payments banks Paytm and Fino confirm this. 

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