Airtel Payments Bank (APB), one of the rare profitable fintech companies in India, might soon go public. Owned by Airtel, the company has quickly expanded its customer base and reached profitability. The Airtel Payments Bank allows Airtel customers to open a savings account and then get access to several banking facilities. In addition to the payments business, Airtel could also push its data center business for monetisation at some stage. Airtel Payments Bank has reached the milestone of an annual revenue of Rs 1,000 crore. By 2030, as digital services grow and more users start relying on online banking, analysts expect APB to generate $1 billion of annual revenue.
The company also has a scope to grow its business in the B2B segment. There's no particular timeline on when the company would go public, but it is definitely in the plans of Airtel. According to an ET Telecom report, a top official said that it's an option as per the Reserve Bank of India (RBI) license that, at some stage, the company is expected to list.
Airtel Payments Bank currently has around Rs 20,000 crore in gross merchandise value (GMV) and over 50 million users on the platform. There's no additional cost to open a bank account with Airtel Payments Bank. Airtel also has Airtel Safe Pay which ensures that the banking experience for the customers is safe and secure.
Customers of Airtel Payments Bank get up to 6% interest on their savings. Further, the savings account with Airtel Payments Bank is a zero-balance savings account, which means that customers don't have to worry about any sort of charges in case their balance drops to zero. There are more benefits of Airtel Payments Bank. Users can get cashbacks on making online payments and avail savings on payments to several brands such as Grofers, Ola and more.