Posted on : March 23, 2022
PayPoint India appoints banking veteran Rajeev Lal as Board of Director
Mumbai, March 23, 2022: PayPoint India, a last-mile distribution of financial services, has appointed Rajeev Lal, currently President of the company, as their new director on board. Prior to PayPoint, he was with the State Bank of India (SBI) for over three decades and acquired experience in various fields of the banking industry.
Previously, as the President of PayPoint, he had been instrumental in developing PayPoint’s growth strategies and guiding the team to achieve its targets through strategic planning and monitoring. Besides the nationwide expansion of the distribution channel, which made the organization grow rapidly and profitably, Mr. Lal also instilled a sense of purpose focused on Financial Inclusion, using modern technology and management techniques.
Mr. Lal excels across various areas, including strategy and leadership, team management, financial inclusion, stressed assets management, and large networks. He has proven competence in scaling up these businesses sustainably while meticulously nurturing top-line and bottom-line growth. Especially in the field of financial inclusion and payments, he has played a pivotal role in guiding these initiatives from the nascent stage to maturity.
“PayPoint India will benefit immensely with Mr. Lal on its board from his vision, expertise, and leadership skills. His professional integrity and personal humility is the role model for our generation. I look forward to his new perspectives and valuable insights as our new board member, adding further value to the company business and consumers,” the Managing Director of PayPoint India, Mr. Ketan Doshi, said on Mr. Lal’s appointment.
About PayPoint India:
~Conferred with the ‘Best Fintech and Bank Collaboration – 2020’ Award by the Internet & Mobile Association of India (IAMAI)~
PayPoint is a last-mile distribution network of Financial Services build on a robust and scalable technology platform. The Company’s digitally connected network of 60,000+ retail stores offer various Banking and Financial services like PMJDY accounts, micro-ATM services, Wallets (Paypointz), Remittances, Bill payments, eGold, Merchant QR and many more. Started operations in 2008, the Company now processes 8 million transactions per month and has acquired & services over 3.3mn bank accounts.
Apart from Financial services, PayPoint also offers consumer services to the underserved like Travel booking, Recharges, Amazon assisted shopping, Gift Cards, etc., through its strong network of retail stores spread across the country.
PayPoint’s business model is an interplay of technology, human assistance and a large bouquet of service. More than 100 Services providers are plugged into the Company’s system through its plug-and-play platform and interact with them on a real-time basis catering to more than 4 million customers per month.