Mumbai, 24th August 2021: RapiPay, India’s leading assisted payments Fintech company today announced the appointment of Nipun Jain as the Chief Executive Officer (CEO) of the company.
Mr. Jain has a rich experience of three decades as a Retail Banking professional with expertise in setting and scaling up of businesses. He is proficient in managing large retail assets, business banking, and branch banking franchise. Prior to joining RapiPay, he has previously worked with Yes Bank and ICICI Bank.
“RapiPay intends to be one step ahead in the growing fintech space and is set to take the lead by getting into newer businesses to fulfill country’s ever-growing demand for banking, financial and payment services. Nipun Jain’s appointment as CEO is a crucial step on that path and I wish him continued success in his new role and look forward to greater achievements” said S.K. Narvar, Promoter, RapiPay Fintech Pvt. Ltd.
“I am also excited to see how RapiPay will continue to grow, evolve and be a one stop destination providing a digital financial ecosystem to Indian consumers” added Mr. Narvar.
The leadership rejig at RapiPay is with an objective to gain foothold in Neobanking domain and thus expand the company’s business further. RapiPay is working on expanding its footprint in the rural areas and Tier II cites to foray into newer businesses such as digital lending, POS, Digital Cards, Investments, Insurance and other financial services
Sharing this news, Mr. Yogendra Kashyap, MD, RapiPay Fintech Pvt. Ltd. said, “Nipun Jain has an impressive track record in various banking services, and I am happy to welcome him as the CEO of the company. His proven leadership, deep expertise in Banking and passion for client-driven innovation will make him the ideal fit to lead RapiPay into its next chapter.”
On his new role Nipun Jain said, “I am extremely excited to lead the team at RapiPay, joining an organization that is well-positioned to grow the financial inclusion to the last mile in the country by shaping the future of assisted payments and financial services through Neo banking”
Nipun Jain joined Yes Bank in 2013 as President of Retail Consumer Loan and was elevated as Group President, heading the SME business of Yes Bank. He has also held the position of Product Head at the ICICI Bank from 2006 – 2013. Jain brings with him a rich repertoire of experience in growing and managing retail business, developing process, products, and retail franchisee with focus on profitability.
RapiPay has witnessed a robust growth of 25% month on month since January 2021. The number of direct business outlets have also increased from 1.5 Lakhs in Jan 2021 to 3 Lakhs in August 2021 and plans to grow it to 1 million in the next 2 years.
S.K. Narvar promoted RapiPay Fintech Pvt. Ltd., a subsidiary of Capital India Finance Limited, is instrumental in growing financial inclusion services in the country. With a network strength of over 3 lakhs, Direct Business Outlets providing services like AEPS, Micro ATM, Bill Payments, Money Transfer, etc., RapiPay is serving more than 15 million underbanked consumers monthly. RapiPay is soon launching its Neobanking services and is building a complete digital financial services ecosystem for Indian consumers.
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