Role of payment banks in financial inclusion and creating transaction based creditworthiness

Abstract

Currently all the payment banks are mostly focusing on speed, safety and efficiency part of the payment ecosystem. In this paper we tried to build a model by which we will be designing a financial product taking the advantage provided by the emerging payment infrastructure. Our main focus in this paper to build a product that provides financial inclusion in real sense. Going ahead we will study the technical infrastructure and emerging financial technologies in much detail so that we will be able to provide a comprehensive financial product in a most efficient and cost effective manner to the downtrodden strata of the society and build their creditworthiness based on cashless transactions they do through mobile using payment banks so that they can avail loan or an overdraft from a bank.