Fino Payments Bank, a 100% digital bank has announced to introduce convenient and simple banking to West Bengal with the Gully Gully Fino initiative. Although the bank already has its presence in the state, this is aimed to broaden its scope and help in financial inclusion of the rural areas of West Bengal. The new age bank’s phygital model turns the neighbourhood small businesses into banking points providing ease and convenience to customers.
Fino Payments Bank has completed two years of its operations recently. It has appointed 3632 merchant points and 100 BPCL outlets in the state with around 101 merchants point operating in Kolkata. These points are the neighbourhood small business stores such as Kirana, mobile repair, beauty salon, and stationery shop etc, where customers frequent. These next door Fino banking outlets offer services such as new bank account opening, deposit, withdrawal, money transfer, utility bill payments transactions. They also help download Fino mobile banking app BPay and assist them in doing digital transactions.
Fino services mass-market customers who earn between Rs 1 lakh to Rs 6 lakh annually such as dairy farmers, vegetable vendors, small business owners, self-employed, etc.
Addressing media about the bank’s plans for the state, Mr. Vipr Bhardwaj, Chief Sales & Distribution Head – North and East zone, Fino Payments Bank said, “West Bengal is an important geography for us as there is immense scope to improve banking service access to those who cannot afford to spend long hours at a bank, especially those in rural areas. To bring simple and convenient banking closer to such people, we are creating a strong network of neighbourhood shops as our merchant points. Through our Gully Gully Fino initiative, we plan to go deeper into the towns and villages and on-board around 10,000 merchant points, including BPCL outlets, by March 2020. These points with Fino micro ATM devices act as mini banks.”
One of the huge advantages of these points is they are open for late hours and any banks’ customers can bank at their convenience without loss of business and time, even on holidays. All one needs is Aadhaar authentication and the transaction is complete. Most importantly, for withdrawals, cash is always available at these points, unlike some ATMs that run dry. Next time you need to deposit or withdraw cash or send money to someone, no need to visit a bank. Step in your neighbourhood Fino banking point at your convenience, complete the transaction and step out. Banking has never been so simple!
If you have an existing small business in Kolkata and intend to be a Fino Payments Bank merchant point, you can write to us on email@example.com or call us on our toll-free no 1860 267 3466