Former PayU executive Abhishek Tripathi has joined Airtel Payments Bank to lead its small and medium business division. Airtel got its licence to operate a payments bank in April this year and an in-principle nod from the Reserve Bank of India in August last year. The company said that it would be launching its payments bank business by the second quarter of the financial year ending March 2017.
Tripathi functioned as associate and business head at PayU where he was responsible for acquiring merchants and servicing the existing base. He joined PayU as a senior manager and head of business development in May 2013. Prior to that, he worked as assistant manager for alliances and payment gateway at Paytm. Tripathi also founded RING-a-BOOK, a Phone based & internet start up company back in 2010.
“My love towards SMB is very deep, this is the universe which can be quantified as 51 million, while today only 40% of these SMB’s are influenced by technology, the number is expected to increase to 90% of all SMB’s by 2020,” he mentioned in a post on Medium.
Tech Mahindra, Cholamandalam Investment and Finance company and Sun Pharma promoter Dilip Shanghvi surrendered their payments bank licence earlier this year. Dilip Shangvi had partnered with IDFC Bank and telecom operator Telenor to start a payments bank. RBI had permitted 11 entities to start a payments bank and the list is down to eight.
Other Airtel Payments Bank appointments
In July, Saranjeet Singh joined Airtel Payments Bank from PayU. At Airtel Payments Bank, he will be responsible for digital marketing for the launch of he service.
The bank also appointed Shashi Arora as CEO and MD of the company in June. Arora replaced Manish Khera who headed Airtel’s payments bank for a short duration of 2 months. Arora was the CEO of Airtel Digital DTH TV for almost 5 years, before which he was the CEO of upper North region at Airtel for over a year. Prior to that, he was the CEO of the Delhi circle with Airtel for over 2.5 years, and the COO of the same for almost 2 years.