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Fintech startup XPay.Life, which claims to be India’s first blockchain-enabled transaction framework, on Friday launched its UPI services targeted at rural India, as it completes three years of operations.

XPay.Life said it is working closely with the regional rural banks and district co-operative banks to help them bank better and enable true financial inclusion of the rural populace with security and no disruption.

XPay.Life aims to make financial facilities accessible for people in rural areas who need financial support the most. The launch of its UPI services is expected to benefit XPay.Life’s 4 million consumers across more than 15 states and 1 lakh villages.

The fintech startup said it works on three models: Software-as-a-Service (SaaS) which includes their mobile app, Platform-as-a-Service (PaaS) which includes their website, and Infrastructure-as-a-Service (IaaS) which refers to their mobile vans. Currently, the company has about 100 active mobile vans that facilitate digital banking and aims to increase it to 200 in the near future.

XPay.Life said it will be bringing many such advanced services for the rural populace in the near future and is looking forward to strengthening the financial ecosystem of India as a whole. The fintech company along with National Bank for Agriculture and Rural Development (NABARD), National Payments Corporation of India (NPCI), and the state government is working towards strengthening digital banking and payments by enabling the last mile link.

“Our aim is to make life simpler with secure transactions and innovations. With the launch of our UPI services, we are looking to make the whole of India and especially rural India financially aware and able. We are working to strengthen the regional and district level banks of various states. This is just the beginning of our initiatives towards supporting a financially inclusive digital India and we look forward to introducing more new offerings in the near future," said Rohit Kumar, founder & CEO of XPay.Life.

Along with its partners and technology, XPay.Life aims to digitize various financial offerings and strengthen the Indian financial sector especially that of rural India, said Karthik Kaladhar, chief sales officer.

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