Fino Paytech has developed and deployed micro payment solutions that make financial services accessible & increases the financial inclusivity. Access to banking products and services has been possible due to ongoing developing and simplification of application, customization along with adhering to the regulatory norms for a regular solution keeping in mind new challenges which come with diversified sets of consumers. FINO Paytech solutions are anchored around using biometric smart card and hand‐held devices known as POT (point of transaction) machines for field operations and biometric authentication.

It provides consulting & advisory services to the governments, central banks, commercial banks, cooperative banks & other institutions along with aiding service in a customer acquisition & data management.

FINO PayTech was chosen by UIDAI to demonstrate the tech-enabled payment mechanism at the national launch of Aadhaar-based service delivery. Currently, Nepal, Bangladesh, Nigeria, Tanzania and Mexico benefit from their tech-enabled, branchless banking solutions.


Banking – It offers a channel combined with technology platform that enables quick acquisition and servicing of customers at any point in time with following options: - Joint Liability Group Loans, Recurring Deposits, Remittance, Savings, Self Help Group Loans.

Government – It offers MIS for monitoring of field force and transactions for following schemes: -Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGs), Social Security Pensions (SSP)

Insurance – Fino Paytech has enrolled over 25 million families under the Rastriya Swasthya Bima Yojana (RSBY).

Technology – Offers customers multiple media such as ATMs/MDMs, POS and/or mobile to carry out banking transactions.

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Financial Highlights

  • On a standalone basis, net revenue was recorded as INR 59.73 crore in FY23 as against INR 841.63 crores in FY22. During the same period Profit Before Tax was INR (-45.30) crore in FY23 as against INR 605.55 crores in FY22.
  • The change on asset side is on account of utilisation of OFS funds for payment of dividend and on liability side due to payment of issue expenses.
  • On a consolidation basis, the net revenue accounted for INR 1,291.3 crores in FY23 as against INR 1050.63 crores in FY22.
  • The primary driver for FINO Paytech business model is a market opportunity for technology and services that enable financial institutions to realize the untapped potential to serve profitably the rural Indians who are currently under-served by or excluded from the formal financial system.
  • One of its subsidiary Fino Payment Bank Limited received payment banking licences by the RBI.

Financial Figures (In INR CRORES)

Particulars FY23 FY22 FY21 FY20 FY19 FY18
Revenue from Operations 13.08 18.65 19.26 62.27 51.45 41.26
Total Income 59.73 841.63 22.33 64.14 53.03 43.37
PBT -45.3 605.55 -15.48 8.39 3.85 -56.11
PAT -57.11 523.64 -16.04 8.06 -9.23 -46.89
EPS -4.37 39.79 -1.25 0.62 -0.72 -3.7
Debt to Equity -0.06 -0.58 0.14 2.27 2.09 0.1
Current Ratio 5.2 22.01 0.4 0.51 0.48 0.78


The Indian payments market is expected to grow at a CAGR of 11.4% in next half a decade. The primary factor driving the growth in the market is the rising adoption of digital payments supported by government initiatives. The Indian payments market is gradually transitioning from cash as the primary mode of payment to the digital payments system. The Indian payment market has evolved to widespread adoption of multiple payment products and systems like Prepaid Payment Instruments (PPIs), Quick Response (QR) code, Immediate Payment Service (IMPS), real-time payment system Unified Payments Interface (UPI), and Aadhar enabled Payment Service (AePS).

The surge in the rising number of transactions has paralysed the banking infrastructure & technical system to a bit which give rise to transaction failures on a recurring basis. This can be systematically dealt by the dedicated tech platform which can maintain the volume & do the heavy lifting. Payment banks have the potential and expertise to provide a wide array of solutions to overcome such hinderance which corporate & commercial bank usually encounters. This will help regular and payment bank in their mutual growth with customer satisfaction & acquisition.


Fino Finance Private Limited: - It is a non-deposit taking NBFC-MFI registered with the RBI. They provide customer-centric financial services, mainly in the form of micro-credit, to the under-served and un-served women population and MSMEs of the country.

Fino Payment Bank Limited – It is first payment bank in India listed on the exchange.

Fino Trusteeship Service Limited - It is an associate company.


Bharat Petroleum Corporation Limited – 26.75%; ICICI Prudential Life Insurance Company Ltd – 10.35%; ICICI Bank Limited – 9.07%; Blackstone GPV Capital Partners (Mauritius) – 6.87%; HAV 3 Holdings (Mauritius) -6.82%; ICICI Lombard General Insurance Company Limited – 6.21%; International Finance Corporation – 6%.

Buy or Sell Fino Paytech Unlisted Shares

Key Personnel

Amit Kumar Jain – Whole Time Director

Rakesh Tripathy – Chief Financial Officer

For any queries, reach out to: unlisted@rurashfin.com or Call: +91 224157 1111