Infibeam Avenues recorded highest ever digital payment processing in Q2

New Delhi: Financial Technology provider Infibeam Avenues has recorded it’s highest ever digital payment processing volume for the quarter ended September 30, the company said in a statement.

Its revenue is up 50% to touch Rs 154 crore, quarter-on-quarter despite very low contribution from aviation, travel & tourism, hotel and entertainment industry. The payment transaction value is up 60% at Rs 22,780 crore.

“During the quarter, we structured pricing in payment business for capturing market opportunities in line with the industry, to sustain profitable growth,” the company said adding that, “Additionally, new businesses, namely express settlement, Neo Banking including card issuance and lending, and CPGS (card processing for financial institutions), will strengthen our domestic and international foothold going forward, apart from our expansion in Saudi Arabia, Oman and USA.”

“Wth the V shaped recovery during the quarter we have recorded highest every payment processing volume and with Q2 being a festive quarter and opening up of the economy fully including signing of certain strategic deals in the quarter will further give a fillip to our overall growth and profitability,” Vishal Mehta, managing director, Infibeam Avenues said.

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Tech-Economic Times

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