‘Noida, Greater Noida emerging as new fintech start-up hubs’

LUCKNOW: Noida and Greater Noida have emerged as preferred destinations for setting up financial technology (Fintech) companies, said state government officials on Thursday while claiming that 239 fintech start-ups have come up in the twin cities.
These are working largely in one or more of the four main fintech areas — digital lending, payments, blockchain and digital wealth management.In its first stint, the Yogi Adityanath government had initiated the effort to develop a fintech city spread across 100 acres. Officials pointed out that availability of world-class infrastructure, uninterrupted electricity supply, internet connectivity and trained human capital have made Noida and Greater Noida favourite destinations for Fintech companies. Companies like Pine Labs, Spice Money, Paytm Payments Bank, Advisorymandi, DIGISPICE, OneCode, Wishfin, GramCover, FanTiger, Marquee Equity, Easypolicy, Buddy4Study, Oye Loans, PayMe India, PortDesk, Nivesh.com, and many more have been doing business in Noida and Greater Noida for many years.
“Most companies are witnessing a fast pace of growth in view of the rapid adoption of digital payments across all sectors in India,” officials said.
Officials said that 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.