There is a Fintech revolution happening in India, and here’s why you should care

  • More than 200 million bank accounts have been opened in just one year.
  • More than 300 million new debit and credit cards have been issued in the last four years, thus bringing the total number of cards to more than 600 million.
  • In the last 12 months, more than 100 million new mobile wallets were created, from a base of almost zero, mostly driven by startups that didn’t even exist five to 10 years ago.
  • More than 1 billion citizens came onto the digital grid through India’s Universal ID project in five and a half years, making it the fastest digital service growth in history. (Android hit 1 billion in 5.8 years; WhatsApp took 7 years.)

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