Fintechs should focus on offline payment solutions: M Nagaraju

With the country’s digital payments ecosystem rapidly maturing, financial services secretary M Nagaraju on Monday requested fintechs to focus on offline payment solutions to further financial inclusion and expand cross-border payment solutions.

Fintech companies should leverage their strengths and innovation by not only extending financial services to the masses, but also develop robust solutions against fraud, hacking and other cyber threats — making a greater use of emerging technologies like Artificial Intelligence, he said at the Financial Inclusion and Fintech Summit, organized by the CII.