Payinstacard digital financial services on a mission to provide access to formal financial tools for India’s Tier 2 and Tier 3 cities.

Sai Krishna Musunuru, Director & CEO of Payinstacard would like to address millions in emerging India still lacking simple, secure, and rewarding solutions tailored to their realities. Payinstacard is addressing this through “India ka naya Super App” — an integrated platform offering payments, credit, rewards, and bill payments in one seamless experience.

Could you elaborate on the concept of Payinstacard?

Payinstacard is a Hyderabad-based digital financial platform founded in 2022 with a mission to simplify and democratize access to formal financial services for India’s underserved markets, particularly Tier 2 and Tier 3 cities. It functions as a “Super App” that integrates digital payments, micro-credit, bill payments, and rewards into one seamless ecosystem.

Designed for first-time digital and credit users, Payinstacard prioritizes intuitive design, vernacular accessibility, and low-data usage to suit the realities of Bharat. The platform partners with trusted institutions like Axis Bank and NPCI and complies with RBI guidelines to ensure secure, transparent financial engagement.

By leveraging smartphone penetration and UPI adoption, it aims to transform how emerging India interacts with money—enabling blue-collar workers, freelancers, small business owners, and salaried individuals outside metros to make secure transactions, access credit, and earn rewards. Payinstacard ultimately strives to be a trusted financial companion for India’s fast-growing, aspirational middle class.

How has the product evolved?

The idea behind Payinstacard was born from a simple insight—users love rewards, but traditional reward systems are confusing, restrictive, and often break user trust. Most banks and credit card companies offer reward points, but each point has a vague or inconsistent value, like ₹0.10, and converting them into usable benefits is time-consuming, complex, and sometimes costly.

We wanted to change that. Payinstacard was built to offer real cash rewards for every transaction—simple, instant, and with no hidden conditions. Users can spend these rewards freely, anytime, anywhere—whether online, offline, or at metro stations through our linked Rupay prepaid card. The app is designed to be safe and easy to use and charges the lowest possible convenience fees across services.

What started as a solution to fix reward inefficiencies has now evolved into a trusted financial ecosystem—offering bill payments, real-time credit reports, smart lending options, and more.

Trust remains at the core of everything we build. As we continue to innovate, Payinstacard is on a mission to become India’s most transparent, rewarding, and trusted finance app.

What is the footprint of the brand pan India?

Payinstacard’s pan-India footprint is steadily growing, with a strong focus on Tier 2, Tier 3, and emerging Tier 4 cities—regions that have traditionally lacked easy access to formal financial tools. These areas represent a significant segment of India’s population that is increasingly digitally aware but remains financially underserved. Recognizing this gap, Payinstacard has tailored its offerings to meet the unique needs of users outside metro hubs.

Currently, the brand serves users across more than 400 districts, with an ambitious roadmap to expand operations to 600+ districts in the next few years. This expansion is supported by its Bharat-first approach, which prioritizes regional language interfaces, low-data consumption, and simplified user experiences aligned with local digital habits.

Strategic collaborations with national-level entities like banks, payment infrastructure providers, and fintech associations ensure the platform’s seamless integration across geographies. Moreover, Payinstacard is investing in a growing rural agent network to drive assisted onboarding and user support in low-literacy regions.

By aligning digital services with local realities, the brand is not only expanding its geographical footprint but also deepening trust and usability among first-time digital finance users. Thisapproach positions Payinstacard as a reliable financial companion across India’s rapidly digitizing heartland.

How has the company grown financially over the years?

Payinstacard has experienced steady and meaningful financial growth since its launch in 2022, driven by a clear focus on Bharat’s underserved digital users. What began as a focused offeringfor Tier 2 and Tier 3 cities has rapidly evolved into a full-fledged financial platform with wide user adoption and strong retention.

The company has consistently recorded a 20% month-on-month growth rate, reflecting growing engagement across payments, credit, and utility services. This momentum is fueled by its inclusive product design, rewards-driven ecosystem, and trust-first user experience.

In April 2024, Payinstacard secured its first seed round from an angel investor, which enabled faster product development, deeper regional reach, and the launch of new service layers.

With a well-diversified revenue model — spanning transaction fees, credit commissions, subscription-based offerings, and in-app brand integrations — the company has built a financially scalable and sustainable foundation, well-positioned to serve India’s growing digital middle class in the years ahead.

What is the detailed profile of the target audience for your product?

Payinstacard is built for individuals in India’s smaller cities and towns who are stepping into formal digital finance for the first time. We are B2B and at the same time a B2C company whose target audience broadly includes gig workers, small shop owners, entry-level professionals, and self-employed individuals who may not have access to traditional banking or credit services.

Most users are smartphone-savvy but prefer apps that are simple, regional-language friendly, and don’t require high data usage. They seek practical solutions—like easy bill payments, quick access to small loans, and rewards for regular usage. This audience values convenience, trust, and clarity over complexity, and forms the backbone of India’s new digital economy.

What is the break-up of the cost of your brand?

The breakup cost of Payinstacard is significantly high — and that’s by design. Over time, we’ve built a deep ecosystem of trust, transparency, and real value for our users. From instant real-cash rewards to smart credit tools and seamless bill payments, our platform becomes part of users’ financial habits. Leaving Payinstacard would mean giving up access to earned rewards, personalized financial insights, ongoing credit offers, and a trusted, secure environment. More than just convenience, users value the peace of mind and reliability we provide — and that makes the emotional and functional cost of switching very real. Trust is hard to earn and easy to lose — and we work every day to ensure our users never feel the need to break up with us.

Is there scope to take your brand internationally?

Yes, there is strong potential to take the brand internationally, especially to emerging markets in Asia, Africa, and Latin America that face similar challenges in financial inclusion. Many countries have large populations of underbanked users, high mobile penetration, and growing interest in digital payments and microcredit. Payinstacard’s model—offering low-data, multilingual, and reward-based financial tools—can be adapted to local contexts with minor modifications. Its modular architecture and compliance-first approach make it scalable and suitable for cross-border expansion, particularly in regions where financial literacy is low and the need for simple, secure, and inclusive digital finance is high.

Do you have any new products in the pipeline?

Payinstacard is gearing up to launch a suite of innovative fintech products in the coming months. Leading the lineup is India’s first open loop wallet with real cash rewards, linked to a Rupay prepaid card offering tap-and-pay, swipe, and NCMC metro access—delivering seamless spending and rewards at partnered merchants. The platform is also introducing real-time credit score and report checks, with built-in issue reporting. Additionally, a smart lending solution will enable users to apply for personal, business, education, and credit card loans without impacting their credit score. Launches are scheduled through mid-September, marking a bold step in Payinstacard’s mission to redefine everyday finance.

What is your future growth strategy?

Payinstacard’s future growth strategy focuses on scaling reach, deepening user engagement, and expanding financial offerings. The company plans to onboard over 100 million users across 600+ districts by strengthening its presence in Tier 2, 3, and 4 markets.

A key priority is the rollout of vernacular-first interfaces in multiple Indian languages to improve accessibility. The brand will also expand its product suite to include insurance, savings and gold-linked services, particularly for gig workers and daily earners.

To support users with limited digital literacy, Payinstacard is building a rural agent network for assisted onboarding and support. On the credit front, it aims to partner with NBFCs and regional banks to scale micro-lending and hyperlocal credit.

Additionally, investment in AI-driven personalization, referral programs, and compliance-led infrastructure will help drive retention and trust. The overarching goal is to become Bharat’s

most trusted financial companion—from first transaction to long-term wealth creation.

Which are your main competitors?

Payinstacard operates in a highly competitive segment of the fintech ecosystem, where several players like paytm, phonepay and many others offer digital payments, credit access, and utility services. However, most of these solutions tend to focus on urban or already financially ncluded users. What sets Payinstacard apart is its dedicated focus on MSME — users in Tier 2, 3, and 4 cities who are new to digital finance.

While others may offer similar features, few are optimized for low-data usage, regional language support, and the financial behavior of first-time credit seekers. Payinstacard’s differentiation lies in its inclusive design, reward-driven ecosystem, and commitment to building long-term trust with underserved users.