BANKIT–Providing Seamless Banking and Digital Payment Solutions with Entrepreneurial Opportunities


It is ironic that in today’s digital world where money transaction does not take more than a minute to complete, several neglected rural areas and stakeholders are given the shorter end of the stick.

Amit Nigam
Amit Nigam, Executive Director & COO, BANKIT

More than 100 million Indian labours face the burden of the unorganised financial structure, where they are unaware of their rights to financial security and subjected to loss of money, negative assertion over money transactions and loss of daily wages.



It is not only a priority to bring in the concept of Digital India to these regions but also its
acceptability should be ensured among its masses who always seem to be stuck in the vicious cycle of dire economic situations and hostile stakeholders.

Upholding the Plug and Play Trend

Noida-based digital payment organisation , BANKIT is helping people who are excluded from the easy access to basic banking and financial services to enjoy the seamless experience of Banking and digital payment system. BANKIT not only helps people be a part of the cashless economy but also creates employment and entrepreneurial opportunities by appointing Agent business correspondents ensuring delivery of services to the end consumers. BANKIT agents help end consumers with quick money transfer to almost all banks in India through a convenient channel, where it’s safe, instant and easy money remittance service. Cash withdrawal facility from an account through AEPS is also available and makes BANKIT Outlets like a Mini ATM cum Bank branch.

These BANKIT outlets also provide BANKIT prepaid card solution which customers can use for their daily transactions such as shopping and making online/ POS payments. This way, even the unbanked user can enjoy the benefits of the plastic cards.

The company also provides APIs for all its services which are secured and ready-to-use plug-ins and can be used to make personalised B2B portals for corporate partners.

Elaborating further, Amit Nigam, Executive Director and COO, BANKIT, says, “We are creating employment through entrepreneurship, and also providing the opportunity to earn extra money for our channel partners in every corner of the country. Through our CSR programme Unnati ka saathi we are enrolling underprivileged section of the society like physically able, widows, Ex-army personal etc.” At present BANKIT’s channel partners are present in more than 22 Indian states and many remote villages now have BANKIT outlets. In addition to the core offerings, these agents also help consumers who might not harbour the ability to self-transact with utility services like bill payments, recharges, travel bookings etc.

Technical Reinforcement

BANKIT works in adherence to the regulations. Thanks to its embedded API service, it assures a layered protection against infiltration and also leverages its partner banks’ infrastructure to securely encase customers’ money. BANKIT is in the process of shifting to the Amazon Web services which would further create a foolproof ecosystem and enhance the security measures for better.

“We want to extend our presence to the entire nation where we are able to cater the service they need and create a pull in the market that lacks push of any kind; that is our mission,” concludes Amit.
(Views expressed in the article are a personal opinion of Amit Nigam, Executive Director & COO, BANKIT).

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