Mumbai: 26 Feb,2025: The Indian financial sector has long struggled with high non-performing assets (NPAs) and fragmented verification systems. Financial institutions face challenges such as delayed loan disbursals and increased risks due to inefficient validation processes, leading to significant revenue losses.
To address these critical challenges, airpay, an integrated omnichannel financial services platform, is expanding its capabilities beyond payments to offer comprehensive financial solutions that help Non-Banking Financial Companies (NBFCs) reduce NPAs and enhance credit risk management.
As part of this initiative, airpay has launched Customer Premise Validation (CPV), that enhances borrower verification, minimises fraud risks, and accelerates financial recoveries. By combining digital intelligence with physical verification, airpay enables NBFCs to conduct faster, more accurate, and fraud-free verifications. The improved verification process will lead to significant cost savings for NBFCs, reduced defaults, and faster loan approvals.
Kunal Jhunjhunwala, founder of airpay, said: "NBFCs, banks, fintechs, and insurers have long struggled with verification inefficiencies that increase default risks and delay credit access. The future of financial services lies in integrated solutions that connect digital transactions with robust on-the-ground validation.”
"With CPV, airpay has evolved into a one-stop financial partner, equipping NBFCs with the tools to navigate the complexities of collections, verifications, and cash management. Our solutions are designed to reduce NPAs and enhance confidence in lending decisions," he added.
Currently, CPV is being implemented by airpay’s on-ground vyaapaar team to ensure high accuracy and reliability. As the model scales, airpay aims to integrate its extensive network of 5 lakh+ vyaapaaris across 9,000+ pin codes to further strengthen its verification capabilities.
Beyond CPV, airpay’s omnichannel ecosystem includes a robust payment gateway with 160+ payment instruments, recurring collections, and point-of-sale solutions tailored for rural merchants. The company also facilitates digital collections via eNACH & UPI Autopay, field collections, doorstep address verification, and a comprehensive cash management system (CMS) spanning over 2 lakh retailers across India. These offerings enable NBFCs and other financial institutions to streamline loan disbursals, mitigate fraud risks, and enhance borrower trust – all through a single, integrated platform.
airpay’s continued expansion in financial services is backed by its strong presence in the BFSI sector, serving marquee clients such as Shriram, PNB HFL, Suryodaya SFB, India Shelters, and Star Health. With its focus on NPA reduction and end-to-end financial solutions, airpay is setting new standards for security, efficiency, and accessibility in India’s financial landscape.
About airpay
With 12+ years of experience, airpay is India's first integrated omnichannel financial services platform. airpay has revolutionised access to financial services in India by empowering a million business owners, extending financial inclusion and last-mile connectivity. airpay's open architecture offers real-time transaction visibility and advanced analytics. It is used globally by consumers, businesses, banks, and financial institutions. airpay is shaping the future of payments from #LocalToGlobal, from India to the Middle East to Africa.
Positioned as India's key partner in driving digital financial services adoption with global ambitions, airpay continues to set new standards in the industry. 1 Based on the number of active live sites as reported by competitors' figures, independent third-party-data and internal data as of Q3 2023.
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