Airtel Payments Bank Ltd vs Fino Payments Bank Ltd – Which Is Best in India?

India’s banking industry is changing rapidly. Today, customers do not always need to visit a traditional bank branch for basic banking services. They can open accounts, deposit money, withdraw cash, transfer funds and make digital payments through Payments Banks and their authorized banking outlets.

Two popular names in this segment are Airtel Payments Bank Ltd and FINO Payments Bank Ltd.

Both banks provide digital banking and financial services, but their business models, customer networks, account products and merchant opportunities are different.

If you are a customer looking for a new bank account or a shopkeeper planning to start a Banking CSP Centre, understanding the differences between Airtel Payments Bank and FINO Payments Bank can help you make a better decision.

In this article, we will compare both banks, their customer base, account types, services, benefits, merchant opportunities, registration processes and more.

What Is Airtel Payments Bank Ltd?

Airtel Payments Bank Ltd is an Indian Payments Bank promoted by Bharti Airtel. It started its banking operations in January 2017 with the objective of providing simple, accessible and digital banking services.

The bank uses Airtel’s digital ecosystem and retail network to provide banking services to customers across India.

Customers can access banking services through the Airtel Thanks App and authorized Airtel Banking Points.

Main Services of Airtel Payments Bank

Savings Bank Account
Current Account
Digital Banking
UPI Payments
Cash Deposit and Withdrawal
Aadhaar Enabled Payment System (AEPS)
Money Transfer
Micro ATM Services
FASTag
Mobile Recharge and Bill Payments
Insurance Products
Salary Banking Solutions
Cash Management Services

Airtel Payments Bank focuses on digital payments, everyday banking, mobile-based services and a large retail banking network.

Official Website: https://www.airtelpayments.bank.in/

What Is FINO Payments Bank Ltd?

FINO Payments Bank Ltd is an Indian Payments Bank established to provide accessible banking and financial services through technology and a large merchant network.

FINO has a strong presence in assisted banking, especially in rural, semi-urban and underserved locations.

Its banking network includes FINO Merchants, Banking Points and digital banking channels.

Customers can access banking services through authorized FINO Merchant Outlets and the FinoPay App.

Main Services of FINO Payments Bank

Savings Bank Accounts
Current Accounts
FINO Merchant Banking Services
AEPS Cash Withdrawal
Micro ATM Services
Domestic Money Transfer (DMT)
Cash Deposit Services
UPI Payments
Aadhaar Pay
Insurance Products
Loan Referral Services
Bill Payments and Recharge
Business Banking and Cash Management Services

FINO focuses on connecting customers with banking services through local merchants and digital platforms.

Official Website: https://www.fino.bank.in/

Airtel Payments Bank vs FINO Payments Bank – Quick Comparison

Here is a comparison of both banks based on their major services and business models.

Comparison	Airtel Payments Bank	FINO Payments Bank
Full Name	Airtel Payments Bank Ltd	FINO Payments Bank Ltd
Parent / Promoter	Bharti Airtel	FINO Group
Banking Operations Started	2017	2017
Bank Type	Payments Bank	Payments Bank
Savings Account	Yes	Yes
Current Account	Yes	Yes
Digital Banking	Airtel Thanks App	FinoPay App
AEPS Services	Yes	Yes
Micro ATM	Yes	Yes
Money Transfer	Yes	Yes
UPI Services	Yes	Yes
Merchant Network	Large retail network	Merchant-led banking network
FASTag	Yes	Check current product availability
Insurance	Yes	Yes
Loan Services	Through eligible lending partners	Through loan referral partners
Banking Outlet	Airtel Banking Point	FINO Merchant Point
Customer Support	1800-23400	1800-268-1000

Note: Individual services depend on account eligibility, merchant authorization, location and current bank policies.

Why Were Airtel and FINO Payments Banks Established?

Both banks were established to make banking more accessible and convenient for people.

Traditional banking sometimes requires customers to travel to a bank branch, wait in queues and complete paperwork.

Payments Banks help reduce these difficulties through digital banking and authorized retail outlets.

Why Airtel Payments Bank?

Airtel Payments Bank uses its telecom and digital ecosystem to provide banking services.

Its main objectives include:

Making digital banking easier.
Encouraging cashless transactions.
Providing banking access through retail outlets.
Supporting small businesses and merchants.
Offering digital payment solutions.
Making everyday banking convenient through mobile applications.

Why FINO Payments Bank?

FINO focuses on financial inclusion through its extensive merchant network.

Its objectives include:

Providing banking access in rural areas.
Helping small shopkeepers become banking merchants.
Offering assisted banking services.
Making cash withdrawal and money transfer convenient.
Supporting small businesses with financial services.
Connecting underserved customers with digital banking.

Both banks play an important role in expanding banking access in India.

Customer Base of Airtel Payments Bank vs FINO Payments Bank

Customer base is an important factor when comparing two banking companies.

A larger customer network can provide better brand visibility and potential business opportunities, but customer numbers alone do not determine the quality of banking services.

Airtel Payments Bank Customer Base

Airtel Payments Bank has a large digital and retail banking ecosystem.

Its FY2024-25 results reported customer balances of ₹3,659 crore and described the bank as India’s third-largest mobile bank by user base.

Its current official website also highlights more than 75 million active users.

Airtel’s ecosystem benefits from its existing telecom customer relationships and retail distribution network.

FINO Payments Bank Customer Base

FINO Payments Bank reported approximately 1.43 crore customers in FY2024-25.

According to its FY2025 Annual Report, FINO also had approximately 19 lakh merchant points across 97% of India’s PIN codes.

The bank processed approximately ₹4.61 lakh crore in transaction throughput during FY2024-25.

This demonstrates FINO’s strong presence in assisted banking and merchant-based financial services.

Customer Base Comparison

Particulars	Airtel Payments Bank	FINO Payments Bank
Customer / User Information	75 million+ active users on current website	1.43 crore customers in FY25
Banking Network	5 lakh active banking retailers reported on retailer page	Approximately 19 lakh merchant points in FY25
Main Strength	Digital and retail ecosystem	Assisted banking and merchant network
Focus	Digital payments and everyday banking	Financial inclusion and merchant banking

Important: These figures use different reporting definitions and reporting dates. Airtel’s active-user figure and FINO’s FY25 customer figure should not be treated as an exact like-for-like comparison.

Sources: Official Airtel website and FINO Annual Report 2024-25.

Types of Accounts Offered by Airtel Payments Bank

Airtel Payments Bank offers different banking products for individual customers and businesses.

Some major account products include:

1. Savings Bank Account

Airtel Savings Bank Account is designed for everyday banking.

Customers can use it for:

Money Deposits
Cash Withdrawals
UPI Transactions
Online Payments
Fund Transfers
Mobile Recharge
Utility Bill Payments

2. Safe Second Account

Airtel introduced the Safe Second Account in September 2025.

It is designed for customers who want to keep their everyday spending separate from their primary savings account.

Its features include:

Digital Account Opening
UPI Payments
Transaction Controls
Sleep Mode
Fraud Alarm
Digital Banking Access

3. Salary Account

Airtel also provides salary banking solutions through corporate arrangements.

Employees can receive their salaries directly into their bank accounts and access eligible salary account benefits.

4. Current Account

Airtel Current Account is designed for business owners and individual entrepreneurs.

It supports:

Business Transactions
UPI Collections
Fund Transfers
Cash Deposits
Business Payments
Digital Account Management

5. Basic Savings Bank Deposit Account

Airtel also provides a Basic Savings Bank Deposit Account (BSBDA), subject to its eligibility and regulatory conditions.

For updated account features and charges, visit the official website.

Types of Accounts Offered by FINO Payments Bank

FINO Payments Bank provides different savings and current account products designed for different customer requirements.

Some of its published Savings Account products include:

1. Shubh Savings Account

Shubh Savings Account is designed for everyday spending and UPI transactions.

Benefits include:

Zero Balance Facility
UPI Banking
RuPay Platinum Debit Card
Digital Banking
Cash Deposit and Withdrawal
Interest on Savings

2. Gullak Savings Account

Gullak is another savings account product offered by FINO.

Customers should check the latest product terms, eligibility and applicable fees before opening the account.

3. Women Savings Account

FINO offers a Women Savings Account designed for women customers.

It aims to provide convenient banking and eligible account benefits.

4. Other Savings Account Variants

FINO’s product portfolio may include additional account variants based on customer segments and current bank offerings.

5. Current Account

FINO also provides Current Account solutions for eligible business customers.

These accounts are useful for managing business-related banking transactions.

For the latest account variants, eligibility and charges, visit:

https://www.fino.bank.in/current-and-savings-account

Airtel Payments Bank vs FINO Payments Bank – Which Account Is Better?

Both banks provide savings and business banking facilities, but the best choice depends on your requirements.

Requirement	Suggested Option
Daily Digital Payments	Both
UPI Transactions	Both
Local Assisted Banking	Both
Large Digital Ecosystem	Airtel
Merchant-Based Banking	FINO
Savings Account	Compare account charges and benefits
Business Current Account	Compare transaction limits and charges
Rural Banking Access	FINO has a strong merchant network
Telecom-Linked Ecosystem	Airtel
Banking CSP Business	Compare local onboarding and services

Which Is Better for Customers?

Choose Airtel Payments Bank if you prefer:

Digital banking through an established telecom ecosystem.
Everyday payment services.
Digital account management.
Airtel-related financial services.

Choose FINO Payments Bank if you prefer:

Assisted banking through local merchants.
A strong local banking outlet network.
Merchant-assisted financial services.
Banking services through a nearby FINO Point.

There is no single winner for every customer. Compare account fees, interest rates, service availability and customer support before opening an account.

Which Is Better for Starting a Banking CSP Centre?

This is an important question for shopkeepers and entrepreneurs.

Both Airtel Payments Bank and FINO Payments Bank offer opportunities for eligible retailers to join their banking networks.

However, their onboarding procedures, services, commissions and business requirements may differ.

Airtel Payments Bank Retailer

Airtel Payments Bank allows eligible retailers to apply for a Banking Retailer partnership.

Its retailer services include:

Savings Account Opening
Current Account Opening
AEPS Cash Withdrawal
Cash Deposit
Money Transfer
Micro ATM
Mobile Recharge
Electricity and Utility Bill Payments
Insurance Services
Loan Referrals
Cash Management Services

Airtel’s official retailer page mentions a physical shop, age eligibility and basic financial knowledge as requirements.

Official Registration:
https://www.airtelpayments.bank.in/retail-b2b

FINO Bank Merchant

FINO allows eligible shopkeepers to become authorized FINO Merchants.

Its services include:

Savings Account Opening
Current Account Services
AEPS
Micro ATM
Domestic Money Transfer
Aadhaar Pay
Cash Deposit
Insurance Products
Loan Referrals
Bill Payments and Recharge

FINO accepts applications from different types of retail businesses, including:

Kirana Stores
CSC Centres
Mobile Shops
Photocopy Shops
Stationery Shops
Dairy Shops
Pharmacies
Bakeries
Other Retail Shops

Official Registration:
https://www.fino.bank.in/merchant-services

How to Become an Airtel Payments Bank Retailer?

If you want to start an Airtel Banking Point, you can apply through its official retailer registration page.

Step-by-Step Process

Visit the Airtel Payments Bank official website.
Open the Become a Retailer section.
Fill in your personal details.
Enter your mobile number.
Provide your shop name and complete address.
Enter your business details.
Submit the application.
Wait for the bank’s authorized team to contact you.
Complete the required verification.
After approval, complete onboarding and service activation.

Documents You May Need

Aadhaar Card
PAN Card
Mobile Number
Shop Address Proof
Business Details
Bank Account Details
Photograph
Other documents requested during verification

The final document requirements depend on the bank’s onboarding process.

How to Become a FINO Merchant?

If you want to open your own FINO Banking Outlet, you can apply through the official FINO Merchant registration channel.

Step-by-Step FINO Merchant Registration

Step 1: Visit the Official Website

Go to https://www.fino.bank.in/

Step 2: Select Become a Merchant

Open the Merchant Services section and select the application option.

Step 3: Enter Your Details

Provide your name, mobile number, shop address and business information.

Step 4: Submit Documents

Provide the required KYC and business documents.

Step 5: Verification

The bank or its authorized representative will review your application.

Step 6: Training and Onboarding

If approved, complete the required training and merchant onboarding process.

Step 7: Start Your Banking Outlet

After authorization and activation of services, you can begin offering eligible banking services to customers.

Documents Required for FINO Merchant

Commonly requested documents may include:

Aadhaar Card
PAN Card
Passport Size Photograph
Shop Address Proof
Shop Registration Documents, where applicable
Bank Account Details
Active Mobile Number
Other KYC Documents

Final requirements depend on FINO’s current onboarding policy.

FINO Merchant vs Airtel Retailer – Business Comparison

Particulars	FINO Merchant	Airtel Retailer
Business Model	Assisted Banking	Digital and Assisted Banking
Account Opening	Yes	Yes
AEPS	Yes	Yes
Micro ATM	Yes	Yes
Money Transfer	Yes	Yes
Cash Deposit	Available services vary	Yes
Bill Payments	Yes	Yes
Insurance	Yes	Yes
Loan Referrals	Yes	Yes
Local Banking Outlet	Yes	Yes
Commission	Service-based	Service-based
Registration	Bank approval	Bank approval

Which Banking Franchise Should You Choose?

Choose FINO if you want to focus on merchant-based banking services and local assisted banking.

Choose Airtel if you want to work with its digital and retail ecosystem.

Before selecting either option, compare:

Merchant commission rates.
Customer demand in your area.
Device and setup costs.
Settlement process.
Technical support.
Transaction success rate.
Available banking services.
Merchant agreement and renewal conditions.

Do not select a banking partnership only because someone promises higher earnings. Always verify the official commission structure.

Can You Become Both Airtel and FINO Merchant?

Eligible shopkeepers may explore partnerships with multiple banking and financial service providers, subject to each provider’s agreement, compliance rules and operational conditions.

Having more than one authorized banking service can help you offer a wider range of services to local customers.

For example, a retail shop may explore:

FINO Banking Services
Airtel Payments Bank Services
AEPS
Micro ATM
Money Transfer
Insurance Distribution
Bill Payments
Loan Referral Services

However, you must obtain separate authorization wherever required. Never use another bank’s branding, devices or customer credentials without permission.

Important Things to Know Before Opening a Payments Bank Account

Airtel Payments Bank and FINO Payments Bank are both Payments Banks, not full-service commercial banks.

There are some important regulatory differences.

1. Maximum Balance Limit

Under the current RBI framework, the maximum end-of-day balance for an individual customer of a Payments Bank is ₹2 lakh, subject to applicable rules and approved sweep arrangements.

2. Lending Restrictions

Payments Banks cannot directly undertake lending business like regular commercial banks.

They may offer eligible third-party loan referral or distribution services through authorized partnerships.

3. Fixed Deposits

Payments Banks cannot independently accept regular fixed deposits in the same way as full-service banks. Some may facilitate partner-bank products where permitted.

4. Savings and Current Accounts

Payments Banks can provide permitted savings and current deposit accounts.

These restrictions apply to both Airtel Payments Bank and FINO Payments Bank.

Frequently Asked Questions (FAQs)

Q1. Which is better, Airtel Payments Bank or FINO Payments Bank?

Both banks have different strengths. Airtel has a strong digital ecosystem, while FINO has a large assisted banking and merchant network. The best choice depends on your banking needs.

Q2. Is Airtel Payments Bank a government bank?

No. Airtel Payments Bank is a private-sector Payments Bank promoted by Bharti Airtel.

Q3. Is FINO Payments Bank a government bank?

No. FINO Payments Bank is a private-sector Payments Bank.

Q4. Can I open an Airtel Payments Bank account online?

Yes. Eligible customers can open an account through the Airtel Thanks App or other authorized channels.

Q5. Can I open a FINO Savings Account online?

Yes. FINO provides digital application facilities and also offers account-opening assistance through authorized branches and merchants, depending on account eligibility.

Q6. What is the maximum balance limit in Airtel Payments Bank?

The regulatory maximum end-of-day customer balance is ₹2 lakh, subject to the bank’s applicable internal limits and account conditions.

Q7. What is the maximum balance limit in FINO Payments Bank?

The same Payments Bank regulatory limit of ₹2 lakh applies to individual customers, subject to applicable arrangements and conditions.

Q8. Can I withdraw money from Airtel Payments Bank through AEPS?

Airtel provides AEPS services through eligible and authorized banking points.

Q9. Does FINO Payments Bank provide AEPS?

Yes. FINO provides AEPS services through authorized merchant outlets.

Q10. Can I become an Airtel Payments Bank Retailer?

Yes. Eligible shopkeepers can apply through the official Airtel Payments Bank retailer registration page.

Q11. Can I become a FINO Merchant without having a shop?

A physical retail business setup is generally important for merchant onboarding. Final eligibility depends on FINO’s current requirements and approval.

Q12. How much investment is required to start a FINO Banking Outlet?

The investment depends on onboarding terms, devices, biometric equipment, printer, computer and other setup requirements. Contact an authorized representative for the actual cost. Do not rely on unofficial fee quotations.

Q13. How much can a FINO Merchant earn per month?

Merchant earnings depend on customer footfall, transaction volume, service mix and commission rates. There is no guaranteed monthly income.

Q14. Can I become both FINO and Airtel Merchant?

You can explore both partnerships, subject to each bank’s authorization and contractual conditions.

Q15. Which is better for rural areas?

FINO has a particularly strong assisted banking network in rural and underserved areas. Airtel also has a large retail network. Local service availability should be checked before choosing.

Q16. Can Payments Banks provide personal loans?

Payments Banks cannot directly lend from their own banking operations. However, they may facilitate eligible loan referrals through authorized lending partners.

Q17. Are Airtel and FINO Payments Banks safe?

Both operate under RBI regulation and applicable banking laws. Customers should use official applications, authorized banking points and secure transaction practices.

16. Start Your Own Banking Outlet with Vyapar Grow

Are you a shopkeeper, retailer, CSC operator or small business owner looking to increase your income?

Starting a Banking Outlet can be an additional business opportunity for your existing shop.

With the right banking partnership, you can offer customers convenient financial services while creating additional revenue opportunities through authorized transactions.

At Vyapar Grow, we provide information and registration assistance for banking and financial business opportunities.

Explore Banking Business Opportunities

FINO Bank CSP / Merchant Registration
Airtel Payments Bank Retailer Information
Banking CSP Registration
AEPS and Micro ATM Business
Banking Devices and Equipment
Insurance Distribution Opportunities
Financial Services and Business Growth

Why Choose Vyapar Grow?

Guidance for Banking Business Opportunities.
Information about Merchant Registration.
Assistance with Documentation.
Banking Setup and Device Information.
Multiple Financial Business Opportunities.

Want to Start Your Own Banking Outlet?

Visit https://vyapargrow.in/ and explore the available merchant and banking business opportunities.

Take the first step towards adding banking services to your existing shop!

Conclusion

Airtel Payments Bank Ltd and FINO Payments Bank Ltd are both important players in India’s Payments Banking industry.

Airtel has a strong digital and telecom-linked ecosystem, while FINO has built a significant merchant-led banking network that helps customers access assisted banking services.

For customers, the best bank depends on account features, charges, digital facilities and local service availability.

For shopkeepers and entrepreneurs, both banks offer opportunities to become authorized banking retailers or merchants.

Before applying, compare their services, commissions, onboarding conditions and support facilities.

If you want to start your own Banking CSP Centre, explore the opportunities available through VyaparGrow.in.

Official Sources and References

Airtel Payments Bank: https://www.airtelpayments.bank.in/
Airtel Retailer Registration: https://www.airtelpayments.bank.in/retail-b2b
Airtel Account Products: https://www.airtelpayments.bank.in/products
FINO Payments Bank: https://www.fino.bank.in/
FINO Merchant Registration: https://www.fino.bank.in/merchant-services
FINO Savings and Current Accounts: https://www.fino.bank.in/current-and-savings-account
FINO Annual Report: https://docs.fino.bank.in/uploads/pages/financials/annual-report-2025.pdf
RBI Payments Banks Directions: https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13087