Skip to main content

Announcement : Press Release : Fino Payments Bank is Rajasthan Royals’ Digital Payments Partner

 



Fino Payments Bank is Rajasthan Royals’ Digital Payments Partner

The association is aimed at driving increased consumption of Fino’s services across India

Chennai, 23rd March 2022: Fino Payments Bank (“Fino Bank”, “Fino”) has announced that it will be the official Digital Payments Partner of the Rajasthan Royals for Season 15 of India’s biggest premier cricket competition.

“Competence and Sincerity are brand attributes which strongly connect Fino Payments Bank and Rajasthan Royals. This convergence was a key factor in driving this association,” said Anand Bhatia, CMO, Fino Payments Bank

This association with the Rajasthan Royals (RR), the inaugural winners of the cricket competition in 2008 and often known as the most entertaining team in the competition, is Fino’s maiden foray with the mega sporting event.

As the digital bank for Bharat, Fino Bank will have the opportunity to enhance its visibility to digitally savvy consumers who are associated with the Rajasthan Royals, the league, and the sport of cricket as a whole.

Rajasthan Royals has a large, enviable base of loyal fans in the social media space. And Fino Payments Bank would see its core messages of convenience, accessibility, proximity, and trust, reach these fans and get amplified through the franchise’s digital channels with the usage of various content buckets.

Announcing the association, Rishi Gupta, MD & CEO, Fino Payments Bank said, “In India, cricket and cinema are the biggest engagement avenues that have a Pan India appeal. We are proud and excited to be associated with the Rajasthan Royals and hence to the game of cricket. RR is known to promote cricketing talent from non-metros and smaller towns, our core markets. For us, it is a great opportunity to reach out to the millennial consumer from urban and rural areas and create avenues for them to explore Fino’s digital payment offerings.”

Jake Lush McCrum, Chief Executive Officer, Rajasthan Royals, expressed, “We are delighted to have Fino Payments Bank on board. The outbreak of the pandemic has highlighted the need for accelerated digital transformation when it comes to financial services and it's been great to see Fino driving this, while still supporting those in far-reaching areas. We are looking forward to working together to have a positive impact on their growth in Rajasthan and the rest of India.”

As part of the agreement, Fino Payments Bank would also be engaging with the Royal Rajasthan Foundation, the corporate social responsibility (CSR) arm of the franchise, which is focused on enabling organizations working with empowered women through grants and mentorship. While the CSR projects will be mutually decided, Fino on its part over the years has been working with rural women across states in helping them be financially independent and doorstep bankers.

Fino Bank’s digital platform, including mobile app Fino Pay, has facilitated transactions worth Rs 1.34 lakh crores in the first 9 months of FY22, riding on the increased acceptance of its neighborhood merchant network in emerging India i.e. Bharat.

This aggression finds resonance in Rajasthan Royals rallying call of “HALLA BOL”.

###

About Fino Payments Bank Ltd (www.finobank.com) (BSE: 543386; NSE: FINOPB):

Fino Payments Bank is a subsidiary of Fino Paytech Limited (“Fino PayTech”) which had last raised funds in 2017. Fino Paytech is backed by marquee investors like Bharat Petroleum, ICICI group, Blackstone, IFC, Intel, and LIC among others. Frugal innovation is the key that has given the fintech a leadership position at the middle of the pyramid which primarily constitutes emerging Indian customers. It enjoyed a 55% market share in micro-ATMs in FY21. The Mumbai-based fintech operates on an asset-light business model that principally relies on fee and commission-based income generated from merchant networks and strategic commercial relationships.

Fino Bank platform has facilitated more than 435 million transactions with a gross transaction value of Rs 1.33 lakh crore in the financial year 2020-21. The fintech bank turned profitable in the fourth quarter of 2019-20 and has been profitable in subsequent quarterly periods. The Bank registered a profit of ₹20.5 crores in 2020-21.

In 9M FY22, the Bank facilitated transactions worth Rs 1.34 lakh crores and earned revenue of Rs 723.56 crores as against Rs 559.19 crores in the same period of FY21. During this period it also registered a Profit After Tax (PAT) of Rs 25.12 crores, a 95% increase on 9M FY21 profit.



Labels:

Comments

Post a Comment

Popular posts from this blog

3 books you should read if you like gambling

By playing, a person's body remains active. He gets new energy from these games for other tasks. But in recent times, information and technology have advanced so much that various types of games are easily accessible through the Internet. Cricket is no exception. But if these games bring us happiness, then we have to answer no. These include playing cards and card games, carom during the holidays, and fun times. Cards originated in China. The cards are used to play various sitting games. In addition to games, cards are also used in magic, prophecy, and bungalows of cards. They are mainly used in gambling. People are so mentally disturbed that they can’t easily escape once they get mad in gambling with https://www.10cric.com/ . The person who knows gambling can automatically get knowledge about betting. Because gambling and betting are two sides of one coin, many houses have been destroyed due to gambling. But some gamblers earn a lot because of gambling and betting! ...
96 comments
Read more

Is studying abroad a boon or a bane?

We have always had a debate when it comes to the topic - "Is studying abroad a boon or a bane?" The ideas differ from person to person. If you ask me, I would surely say that Studying Abroad is certainly a boon. Why is that? India is home to many universities which are known worldwide. Having said that, we must also accept the fact that none of them are in Top 20 at least. While there are many factors that attributes to this, when a person has the means to afford it combined with interest and talent, I do not see the reason as to why one shouldn't be educated abroad? While few study for their status symbol, majority of them predominantly study abroad to enhance their career. There is no doubt in it. Take a look at this brilliant video before we could proceed further. Having said that, the option isn't available to all who wanted to go out of India. The major hindrance for us is clearing the English tests which were being conducted across the glob...
55 comments
Read more

WeeBeeSocial –Providing the Mojo for Digital Marketing Initiatives

A long time ago, the quest was to discover new lands and habitats. And now, as humanity has travelled far and wide, we search for new experiences in the digital world. The digital space is where brands and customers meet, communicate and interact to forge new relationships. The success of these interactions depends on the experiences that brands create for their target audience. This is no easy task and there are only a few that have mastered the art and science of digital marketing. One such entity is  WeBeeSocial , a leading digital marketing agency based in New Delhi. The folks at WeBeeSocial breathe digital and their one and only goal is to help brands create super-rich experiences for theircustomers. A full service creative digital agency,  WeBeeSocial  is where creativity and technology merge to create powerful, immersive experiences in the digital space. WeBeeSocial is the first choice for many leading brands, as it offers a comprehensive range of digital...
23 comments
Read more