Airtel Payments Bank has announced that its revenues have increased by 87 per cent to Rs 4.74 billion during FY20. This has been primarily driven by a surge in digital payments, money transfer and offtake of new services.

As far as profitability is concerned, Airtel Payments Bank said that it has turned ‘contribution margin positive’. Contribution margin is defined as gross revenue minus all direct costs incurred in providing services to customers. These costs include payment gateway, transactional cashbacks and all commissions paid by the company.

Further, in terms of subscriptions, Airtel Payments Bank has 31 million active customers along with a network of over 500,000 neighbourhood banking points. As per the company, these neighbourhood banking points are aimed at taking services closer to the customer and have even reached rural pockets of the country.