RapiPay opens regional office in Kolkata, to expand in East

Insight Online News

Kolkata, August 4 : RapiPay Fintech Private Ltd, one of the leading fintech companies in India, on Thursday announced the opening of its regional office in Kolkata.
Taking a step forward in the field of Financial Inclusion, this is RapiPay’s first office in the Eastern region of the country.

East and North East India is a high potential market in the assisted payment services like AEPS (Aadhaar Enabled Payment Systems), Micro ATM, domestic remittance and payments solutions. To tap on this potential RapiPay targets to installs 25,000 Micro ATMs and POS devices in the region and eyes a higher market share by FY 2023.

Moreover, the fintech giant is looking at providing bigger employment opportunities in the region by hiring over 150 employees across functions such as sales, technology, operations, and HR among others. Pan India the company will on board 1000 + employees by the end of the current fiscal.

On the new office inauguration, Nipun Jain, CEO, RapiPay said, “Our new Kolkata branch will be our regional office for the entire Eastern (including North East) zone. This region is a high potential market for banking and financial services. Our new office in this region is in line with our commitment to grow financial inclusion to the last mile in the country”

“With festival period and Durga Puja approaching, we are expecting our GTV (Gross Transaction Value) to grow further through services like cash withdrawal (MATM, AEPS), Domestic Remittance, POS transactions in this region,” added Nipun.

According to the latest RBI Bulletin, the number of Micro ATMs in the country have doubled in last one year, from 4.25 lakhs devices in April 2021 to 8.81 lakhs in May 2022. It’s a growing and a more cost-effective alternative to conventional modes of cash withdrawal, allowing for faster expansion, and increasing banking touchpoints for consumers.


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