Fintech startup XPay.Life, which claims to be India’s first blockchain-enabled transaction framework, on Friday launched its UPI services targeted at rural India, as it completes three years of operations.
XPay.Life said that it is working closely with Regional Rural Banks and District Co-operative Banks to help them bank better and enable true financial inclusion of the rural population securely and without any disruption.
XPay.Life aims to make financial facilities accessible to those in rural areas who are most in need of financial assistance. Xpay is expected to benefit from the launch of its UPI services. Life has 40 lakh customers in over 15 states and 1 lakh villages.
The fintech startup said it operates on three models: software-as-a-service (SaaS) which includes their mobile app, platform-as-a-service (PaaS) which includes their website, and infrastructure- As-a-Service (IaaS) which refers to their Mobile Van. Presently, the company has around 100 active mobile vans that provide digital banking facility and aims to increase this to 200 in the near future.
XPay.Life said that it will bring many such advanced services to the rural population in the near future and looks forward to strengthen the financial ecosystem of India as a whole. The fintech company is working in collaboration with National Bank for Agriculture and Rural Development (NABARD), National Payments Corporation of India (NPCI) and state government to strengthen digital banking and payments by enabling last mile links.
“Our aim is to make life easier with secure transactions and innovations. With the launch of our UPI services, we aim to make the whole of India and especially rural India financially aware and capable. We are working in different states regional and district. We are working to strengthen the Bank of India. Rohit Kumar, Founder and CEO, XPay.Life said.
Karthik Kaladhar, Chief Sales Officer, said, “With our partners and technology, Xpay.life aims to digitize various financial offerings and strengthen the Indian financial sector, especially rural India.