RapiPay, a fintech company has on Monday announced its expansion in the Kashmir valley.
RapiPay has become the first Indian company to start assisted payment services like Aadhaar Enabled Payment System (AEPS) and Micro ATM in Srinagar. RapiPay has also installed Micro ATMs on Dal Lake’s shops, it said in a statement issued to the press.
“RapiPay’s quest for growing financial inclusion to the last mile has enabled crores of Indian underbanked customers to withdraw government’s cashless incentives and DBT transfers seamlessly. Now, J&K will be part of this journey and to tap the Kashmir market further, we plan to have over 15000 new DBOs in the region over the next one year” said Yogendra Kashyap, Managing Director and Founder of RapiPay Fintech Private Ltd.
The number of ATMs in Kashmir are far and few.
RapiPay entry into the valley, as per the press release, will ensure that the local population gets cash withdrawal and other banking services near their house through its DBOs.