The startup offers a biometric-based payment application that enables users to make digital transactions by scanning their fingerprints at point-of-sale devices. This technology provides a fast, secure, and convenient payment method while facilitating services like utility bill payments and QR-based transactions.
Funding
$3.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals in remote areas lack access to traditional banking and financial services, hindering economic inclusion. Existing digital payment solutions often require smartphones or complex infrastructure, creating barriers for users with limited technological access. This disparity limits opportunities for financial empowerment and economic growth in underserved communities.
Solution
Fingpay offers a biometric-based platform that enables banking and financial services for individuals in remote and underserved areas. The platform leverages fingerprint scanning at point-of-sale (POS) devices to facilitate digital transactions, eliminating the need for smartphones or traditional banking infrastructure. Fingpay empowers merchants to provide assisted financial services, including AEPS (Aadhaar Enabled Payment System), micro ATM functionality, mini statements, and corporate cash deposits. The platform also supports enterprise solutions such as digital EMI collection, cash management, and user onboarding, enabling cashless and paperless operations.
Target Audience
Fingpay primarily targets individuals in remote and underserved areas who lack access to traditional banking services, as well as merchants seeking to provide assisted financial services to their customers.
Features
- Aadhaar Enabled Payment System (AEPS) for biometric-based transactions
- Micro ATM functionality for cash withdrawals and balance inquiries
- Mini statement generation for transaction history
- Corporate cash deposit services
- Digital EMI collection for loan repayments
- Cash management solutions for businesses
- User onboarding features for simplified account creation
- Super App features including money transfer, bill payments, savings, loans, insurance, and gold investment