Fino Payments Bank is a digital payments bank of India. It was launched in 2017 as a joint venture between Fino PayTech and Axis Bank. Fino Payments Bank is India’s first payments bank that went live on a single day with 410 branches and over 25,000 banking points.
Fino Payments Bank offers its customers various products and services like Savings Account, Life Insurance, UPI, Micro ATM, FASTag, Aadhaar Seeding, Sweep Account Facility, UPI for Merchant, Cash Bazaar, WhatsApp Banking, Salary Processing Portal – “FINO PAGAR” etc. Provides.
Fino Payments Bank aims to promote financial inclusion to people in remote and rural areas of India. The bank provides access to banking services to people in these areas using its digital platform.
Some of the major products and services of Fino Payments Bank are as follows:
- FinoPay Savings Account: This is the digital savings account of the bank. There is no minimum balance required to open an account. Account holders are also given a free RuPay Platinum debit card.
- Fino Life Insurance: Fino Payments Bank also offers life insurance products to its customers. These products include life insurance, health insurance, property insurance and travel insurance.
- UPI: Fino Payments Bank provides its customers the facility to send and receive money using UPI.
- Micro ATM: Fino Payments Bank also offers Micro ATM at its banking points. Using these ATMs, customers can deposit and withdraw cash, send and receive money, and pay bills.
- FASTag: Fino Payments Bank also provides FASTag to its customers. Using FASTag, customers can make toll payment on National Highways.
- Aadhaar Seeding: Fino Payments Bank provides Aadhaar Seeding facility to its customers. After Aadhaar seeding, customers can easily access their bank account using mobile or internet.
- Sweep Account Facility: Fino Payments Bank also provides sweep account facility to its customers. Under this facility, customers’ savings account balances of more than Rs 2 lakh are pooled together and they are paid interest at a fixed interest rate.
- UPI for Merchant: Fino Payments Bank provides its merchants the facility to receive payments using UPI.
- Cash Bazar: Fino Payments Bank also provides cash market service to its customers. Using this service, customers can withdraw cash from their bank account or transfer money to other bank accounts.
- WhatsApp Banking: Fino Payments Bank also provides WhatsApp banking service to its customers. Using this service, customers can perform various tasks related to their bank account, such as checking account balance, sending and receiving money, and paying bills.
- Salary Processing Portal – “FINO PAGAR”: Fino Payments Bank also provides Salary Processing Portal – “FINO PAGAR” to its customers. Using this portal, customers can view their salary details, download salary slips, and get other information about their salary.
Fino Payments Bank is a leading digital payments bank in India. The bank is committed to promoting financial inclusion to people in remote and rural areas of India using its digital platforms.
