With a population of close to 1.2 billion, India presents a vast, growing and dynamic market. The extent of the FinTech market can be imagined by a simple figure of bill payment, where more than 30 billion bills are paid every year with a value of more than 100 billion dollars. Since even now close to 70% of these bills are being paid in cash, there is a huge scope of FinTech which encourages and eases digital payments.

Currently, there are certain challenges being faced by customers in the payment and financial sector including  lack of single platforms for paying all utility bills, even when certain distributors or retailers provide these services, there is a high chance of stealing of the cash collected from customers due to lack of proper organizations and it being an individual driven service offer. Certain other challenges that customers face include lack of safe methods of international remittance, time taking banking procedures and lack of professional customer support during payment processes.