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<ul><li><keyword id="6358921" type="General" weightage="80" keywordseo="upi" source="Orion">UPI</keyword> clocked over 14.55 billion transactions in volume and ₹26.19 trillion in terms of value.</li><li>UPI’s transaction volume and value have almost doubled since last year's recording.</li><li>Debit cards account for 10 percent and Credit cards accounted for 7 percent of transactions in Q1 2022.</li></ul>India saw 9.36 billion transactions amounting to ₹10.25 trillion in the first quarter (January-March period) via various payment modes led by Unified Payment Interface (UPI), a new report showed on Monday. The UPI P2M (person to merchant) transactions emerged as the most preferred payment mode among consumers with a market share of 64 per cent in volume and 50 per cent in terms of value, according to the report by Worldline, a global leader in payments industry. In Q1 2022, UPI clocked over 14.55 billion transactions in volume and ₹26.19 trillion in terms of value. Its transactions volume and value has almost doubled since last year recording about a 99 per cent increase in volume and over 90 per cent increase in value compared to Q1 2021. As of the first quarter, the top <keyword id="3904501" type="General" weightage="50" keywordseo="upi-apps" source="Orion">UPI apps</keyword> in terms of volume were PhonePe, Google Pay, <keyword id="14300323" type="General" weightage="50" keywordseo="paytm-payments-bank-app" source="Orion">Paytm Payments Bank App</keyword>, Amazon Pay, Axis banks App while top PSP UPI Players were YES Bank, Axis Bank, State Bank of India, HDFC Bank and Paytm Payments Bank. Among the top UPI Apps, Phone Pe, Google Pay and Paytm accounted for 94.8 per cent of UPI transactions volume and 93 per cent of UPI transactions value as of March 2022, the report showed. The average ticket size (ATS) for UPI P2P (peer-to-peer) transactions was ₹2,455 and ₹860 for P2M transactions (as of March). Credit cards accounted for 7 per cent of transactions, but 26 per cent of value, indicating that customers still prefer to use their credit cards for high value transactions. Debit cards account for 10 per cent of transactions, but 18 per cent in value. The volume has shrunk from previous years likely because of the rise of UPI. As of March, the total number of POS terminals deployed by merchant acquiring banks were 6.07 million with over half a million POS terminals deployed during Q1 2022. The POS deployment witnessed over 28 per cent growth in Q1 2022 compared to a year before. As of March, the total number of Bharat QRs were 4.97 million, a 39 per cent rise as compared to March 2021 while UPI QRs stood at 172.73 million, registering an increase of 87 per cent as compared to March 2021. The total number of credit and debit cards in circulation by the end of Q1 2022 was 991.28 million. As of January, there were about 658 million Internet users and about 1.2 billion mobile subscribers in India. In Q1 2022, consumers made 15.6 billion mobile based payments whereas net banking/Internet browser-based transactions were over 1 billion, the report showed. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/how-to-back-up-and-restore-your-whatsapp-chats-with-google-drive/articleshow/92492128.cms">How to back up and restore your WhatsApp chats with Google Drive</a> <a href="https://www.businessinsider.in/india/news/slow-sowing-wary-global-buyers-can-take-rice-prices-on-the-same-path-as-wheat/articleshow/92489067.cms">Slow sowing, wary global buyers can take rice prices on the same path as wheat</a>

Indian consumers made 9.36 bn transactions worth ₹10.25 trillion in Q1 2022

<ul><li>Fintech firm Fino Payments Bank will open its IPO on October 29 and close on November 2.</li><li>The firm is looking to raise ₹1,200 crore through the public listing including an offer for sale worth ₹900 crore.</li><li>The company claims to be the first profitable payments bank to hit the Indian stock market.</li></ul>The Navi Mumbai-based fintech company Fino Payments Bank will be the first payments bank to get listed on the stock exchanges, that too while making profits. The company claims to be the first profitable player in the payments bank space to hit the Indian stock market. Paytm is another payments bank firm in line to get listed soon. Although Paytm has received SEBI’s nod, it is yet to announce dates to launch its initial public offering (IPO). “We are the only scheduled payment bank, which is profitable, we have set up the bank on very low capital,” said Rishi Gupta, managing director and chief executive officer (CEO) of the payment bank. Paytm is one strong competitor for the firm, but its drawback is it is still making losses while Fino Payments Bank has turned profitable in FY21. Paytm reported a loss of ₹1700 crore in FY21. Fino Payments Bank has been operational for over four years now. The payment bank offers a diverse range of financial services including current account and savings account (CASA), micro ATMs, Aadhaar enabled payment system (AePS) transactions, domestic remittances etc., that are primarily digital. <div type="image" title="fino chart 3" height="900" width="1200" msid="87280392" hostid="261"></div> The bank operates through over 6.41 lakh merchants’ network, 143 customer service points and 54 branches across pan India. The bank focuses on the unserved and underserved population, especially in rural and semi-urban areas where financial inclusion is required. The company earns revenue through fees and commissions from its merchant network and strategic commercial relationships. Although Fino is a profitable firm, it has a long way to go in comparison to market leader Paytm Payments Bank that has 100 times more merchant clients. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fino Payments Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm Payments Bank </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total merchants </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.41 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.4 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total deposits </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,870 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,200 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total income </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹790 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,800 crore </td></tr></tbody></table> Further, analysts say that Fino Payments Bank could be eligible for a small finance bank licence within one year, which would open more growth opportunities. A report by B &amp; K Securities said that, “The bank has already completed over 4 years as a payment bank and hence it could become eligible for a small finance bank licence within next 1 year, which would open altogether different growth avenues.” <keyword id="6515163" type="General" weightage="20" keywordseo="fino-payments-bank-ipo" source="Orion">Fino Payments Bank IPO</keyword> to open this week The IPO of the company will open on October 29 and close on November 2. The company is looking to raise ₹1,200 crore through public listing including ₹900 crore through an offer for sale of 1.56 crore shares and ₹300 fresh issue of 52 lakh shares. The price band of the IPO is set at ₹560-577 per share. Promoter Fino Paytech will sell 52 lakh shares in the IPO. The bank plans to utilise the net proceeds from the fresh issue towards augmenting its tier-I capital base to meet its future capital requirements. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹560 to ₹577 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">October 29 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 2 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 9 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 10 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 11 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 12 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">25 </td></tr></tbody></table> SEE ASLO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/sanjiv-goenka-makes-a-billion-dollar-comeback-to-the-worlds-biggest-t20-stage/articleshow/87277384.cms">Sanjiv Goenka makes a billion dollar comeback to the world's biggest T20 stage</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/after-raising-2-billion-since-2020-byjus-is-now-looking-to-raise-another-500-million-in-debt-to-acquire-more-businesses/articleshow/87276471.cms">After raising $2 billion since 2020, Byju’s is now looking to raise another $500 million in debt to acquire more businesses</a>

Fino Payments Bank will be the first fintech startup in India to get listed on the bourses and it is profitable

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Indian consumers made 9.36 bn transactions worth ₹10.25 trillion in Q1 2022

IANS

Fino Payments Bank will be the first fintech startup in India to get listed on the bourses and it is profitable

Bhakti Makwana

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