FINO Payments Bank has launched BPay, its mobile banking app. The payments bank, which started its operations in July with 410 branches and 25,000 access points wants to make banking easy its customers, especially those in the unbanked rural India. The bank already has a wallet of the same name and the current version is an updated facility on Android. The bank said the new BPay enables simple, paperless and convenient banking allowing customers to make bill payments, recharges, fund transfers and buy insurance either through wallet or bank account. It also allows customers to seamlessly access wallet as well as savings account, with a single login and interface. Rishi Gupta, MD & CEO of the bank, said the bank believes that rural India, where mobile internet usage is growing at 26% year-on-year, will drive mobile banking adoption. BPay app will play a critical role in the endeavor to bring banking closer to 50 million customers in 5 years, largely driven by tech savvy rural youth, he added.
