Pay Point India Network Pvt. Ltd. Recognized as Best Business Correspondent at Global Fintech Fest

Mumbai: The Global Fintech Fest 2024 concluded on 30th August 2024, marking another significant milestone in the fintech sector. The event, attended by the Honorable Prime Minister Narendra Modi, government officials, regulators, and industry leaders from around the globe, highlighted the crucial role fintech companies play in driving digital transformation in the economy.

Among the accolades presented during the fest, Pay Point India Network Pvt. Ltd. was honored with the award for the best Business Correspondent in the country by the Payment Council of India. This recognition reflects Pay Point India's unwavering commitment to bridging the financial gap for millions of underserved individuals. The company has been instrumental in opening PMJDY accounts for the financially excluded and facilitating the distribution of various social welfare schemes, including the Atal Pension Yojana, PM Jeevan Jyoti Bima Yojana, and PM Suraksha Bima Yojana.

"We are deeply honoured to receive this award from the Payment Council of India," said Ketan Doshi, Managing Director, Pay Point India Network Pvt. Ltd "This recognition is a testament to our team's dedication to empowering underserved communities through accessible and inclusive financial services. We remain committed to advancing financial inclusion and supporting the government's vision of a digitally empowered India."

Each month, Pay Point India serves the banking and payment needs of over 10 million underprivileged individuals, playing a pivotal role in the national drive towards financial inclusion. The company's efforts underscore the impact that effective financial outreach can have on the lives of those who have traditionally been left outside the formal banking system.

The three-day Global Fintech Fest not only recognized achievements in the industry but also provided a platform for extensive knowledge sharing and the showcasing of cutting-edge technological innovations, further solidifying the event's status as a cornerstone of the global fintech calendar.

“A big thank you to everyone who joined us for the insightful panel discussion on ‘BCs for Digital and Phygital Lending; together, we’re shaping the future of financial services in India” said Ketan Doshi, Managing Director of Pay Point.

In his closing address, Prime Minister Narendra Modi emphasized the fintech industry's contributions to the digitalization of finance and urged continued innovation in the sector. The event coincided with the 10th anniversary of the PM Jan Dhan Yojana (PMJDY), a landmark initiative aimed at enhancing financial inclusion across India. The Prime Minister noted the success of the PMJDY, which has led to the creation of over 530 million accounts, each maintaining an average balance exceeding Rs. 4,300. He acknowledged the relentless efforts of banks and Business Correspondents in making this achievement possible.