Indian Economy News

Fintech platfrom FidyPay partners Yes Bank to push financial inclusion

  • IBEF
  • April 29, 2022

FidyPay, a fintech API platform, announced a partnership with Yes Bank to extend digital facilitation to a wide range of enterprises, including SMEs, fintech companies, and start-ups. FidyPay will provide Yes Bank customers with a smooth connected banking experience as part of the partnership. FidyPay will also serve as a solution provider for UPI services.

Yes Bank plans to serve 10 million SMEs and MSMEs through such banking relationships, as well as an extensive network of government channels that it has acquired over the years to enable integrated digital payment solutions.

FidyPay is backed by Mr. Pratekk Agarwal, the former CBO of BharatPe, and Mr. Ram Pathade, the CEO of Mahagram. The company has over 50 B2B clients which serve over 3 lakh shops. It has a GTV (gross transaction value) of more than Rs. 100 crore (US$ 13 million) per month. The four-year-old Indore-based company has product offerings spanning all aspects of payment, banking, and collections.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.