Man sitting in an office and computer behind him.
Rohit Kumar, Founder & CEO, XPay.Life


Tell our readers about XPay.Life and your professional journey


Founded in 2019 by Mr Rohit Kumar, XPay.Life is India’s first Blockchain-enabled transaction framework. It allows end-to-end payment flow to accept, process and make the payment through a blockchain secure platform. Its innovative form factors ensure that transactions reach the remotest of villages and in a simple secure and safe manner allow transactions to be completed.

We are working towards a truly digitized and financially included India. XPay.Life has already set up its Mobile Vans which are literally Bank on wheels as it has all the services which a bank provides in more than 14 states. By providing the most secure, user-friendly, and effective tools for financial transactions, is aiming to expand its presence in the most remote locations of the country.

We are currently in 12 states and we will cover all the states in India in the next 1 year. Our target is to at least reach 3lac villages in the next 18 months.

Help us understand the current trends in Fintech in India.

 Fintech is a growing industry with seemingly limitless opportunities to improve our financial systems. While the COVID-19 pandemic and lockdown pushed fintech services into the mainstream, there are a number of other factors that are influencing the fintech industry’s future like global adoption of fintech services, awareness of fintech, focus on new technology and many more. These factors will have a significant impact on how banking will evolve in the future.

The emergence of cryptocurrencies and blockchain is developing in combination with fintech. A cryptocurrency is a digital or virtual currency that is protected by encryption, making counterfeiting and double-spending practically impossible. Many cryptocurrencies are built on blockchain technology, which is a distributed ledger enforced by a distributed network of computers.

Blockchain is the technology that allows cryptocurrency mining and marketplaces to exist, and both blockchain and fintech are responsible for improvements in cryptocurrency. The fintech market is embracing blockchain, and it’s here to stay.

The rise of Robo-advisors in stock trading, the application of blockchain in anti-money laundering efforts, the deployment of alternative credit reporting, and the decentralisation of global payments are some of the fintech trends we’ll witness in the coming years. As the demand for financial transactions, payments, and banking grow, the user experience and the ability to respond quickly to regulatory changes will become increasingly important. It’s only a matter of time before we see how and at what scale fintech will continue to flourish.

The fintech industry in India is estimated at ~$ 150 Bn by 2025. You’re thought on what are pillars in achieving.

Innovation. The reason for the fintech boom of the past few years has been the ability of startups to innovate. Combined with a slew of technological advances and the flexibility of a small company has resulted in the success of a lot of fintechs.

To go ahead this flexibility the startups will need to focus its efforts on usability and how simple safe and secure they can make each transactions. With the govt push to increase digital payments, the support will always be there to achieve this figure and even exceed it.

Going forward, what positive initiatives do you expect from RBI to help Fintech companies in India?

The fintech ecosystem in India is firmly in the regulatory crosshairs, and there is no immediate respite in sight if one considers the latest RBI mandate. But that does not deter fintech enthusiasts or overthrow the fact that the ecosystem is estimated to reach a market size of $1.3 Tn by 2025. The greatest advantage will be flexibility in product design and distribution.

It can promote financial inclusion, broaden the offering of financial products and services, increase efficiency for delivery of financial services, and lead to better accessibility, affordability and enhanced customer experience.

It may also result in efficiency gains in credit delivery processes, better-targeted products, and improved risk management, including better underwriting models, among others.

As of June 2022, India has a total of 21 Fintech unicorns, what are factors for this rise and future prospect

 The Fintech transaction value size is pegged to grow from US$66 billion in 2019 to US$138 billion in 2023, at a compound annual growth rate (CAGR) of 20 per cent. Fintech platforms and services mature with a strong user base and product-market fit, they have been identifying more opportunities to diversify their revenue streams, in turn giving rise to Super apps.

Super apps bring a diversified set of services under one umbrella that can facilitate multiple daily use-cases. With increasing levels of digitization, greater affordability of smartphones, and a COVID-induced preference for digital services, Super apps are finding greater acceptance across the Indian market.

The growth of Fintech in India is driven by various macroeconomic factors, such as enabling government and regulatory initiatives, India’s demographic dividend, increasing national disposable incomes, large unbanked population, improving internet access and smartphone penetration, and a rapidly evolving e-commerce marketplace.

Supply-side enablers, such as exponentially growing computing power, widespread internet penetration, and increased internet speed and coverage, coupled with demand-side stimulants like the need for inclusive financial services, customer expectations, and the business need to reduce costs while providing faster, safer, and more reliable services are some of the key factors shaping the Fintech revolution in India.

This interview was authored by Vishwasjeet Singh, Editor-in-Chief, Estrade Business News. To share more stories kindly email: