By Pinkerala News Desk | Nov 21, 2023

The partnership aims to make financial services accessible to all by combining RapiPay’s vast distribution network with Jana’s digital banking services.

20^th November 2023 - RapiPay Fintech Private Limited, a leading assisted financial service company has partnered with Jana Small Finance Bank Limited to offer digital banking experience to the customers through its financial mobile app, NYE.

NYE App, a B2C digital banking initiative of RapiPay Fintech has integrated wide range of financial services under one user-friendly platform.

Jana Small Finance Bank's mission of transforming traditional banking services through cutting-edge technology and robust security aligns seamlessly with RapiPay's commitment to driving innovation in the fintech realm.

Leveraging RapiPay's distribution network, which digitally serves locations across the country, this partnership brings together the best of both worlds, offering users an extensive range of banking products and services right at their fingertips, ensuring convenience and comfort.

Jana's product line-up, including Savings and Current Accounts, comes with attractive features such as competitive interest rates, auto sweep-in and sweep-out facilities, and unlimited cash withdrawals on current accounts. Now, users can avail themselves of these services without leaving the comfort of their homes/shops.

Furthermore, RapiPay’s payment platform adds an extra layer of security and ensures user-friendly transactions for all customers.

This partnership also aims to empower budding MSME entrepreneurs with the financial resources, flexibility, and management capabilities necessary to drive business growth and expansion successfully.

Commenting on this groundbreaking collaboration, Nipun Jain, CEO of Rapipay Fintech Private Limited, expressed that "We are thrilled to partner with Jana Small Finance Bank in our relentless pursuit of financial inclusion. We aim to transform banking services for our customers through NYE. Our partnership with Jana Small Finance Bank is a testament to our shared dedication of empowering individuals with the necessary financial tools to build a brighter future." 

Ashish Saxena, Chief Information and Digital Officer of Jana Small Finance Bank Limited said, "Through our collaboration with RapiPay, we added another opportunity to drive digitalization in the banking sector. This alliance brings us closer to our vision of extending seamless digital banking services to those who remain underserved."

Disclaimer:

Jana Small Finance Bank Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed a draft red herring prospectus dated July 30, 2023 (“DRHP”) filed with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the BRLMs, i.e. Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited at www.axiscapital.co.in, www.icicisecurities.com, and www.sbicaps.com, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section entitled “Risk Factors” on page 29 of the DRHP. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. 

This announcement has been prepared for publication in India and may not be released in the United States. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Bank and that will contain detailed information about the Bank and management, as well as financial statements. However, no public offering of securities is being made in the United States.