Archive · 11 Sep 2026
Payments Banks Seek Pricing Flexibility as Operating Costs Rise
Payments banks help people make payments and manage money, but they cannot give loans.
Their costs have gone up, while some prices they can charge have stayed the same.
Jio Payments Bank wants permission to adjust some prices.
It says this could help payments banks remain healthy.
The bank plans to offer services online and through more than 500,000 physical locations.
It says customers can open accounts in less than five minutes.
The bank is also using artificial intelligence to detect fraud and answer customer questions.
Jio Payments Bank believes it can later connect customers with loans, insurance and investment products through the wider Jio Finance ecosystem.
Payments banks want more pricing flexibility as operating costs increase while some pricing caps remain unchanged.
Jio Payments Bank says AePS pricing caps have not changed since licences were issued.
Jio Payments Bank plans to focus on accessibility, user experience and intelligent savings.
The bank will combine digital services with more than 500,000 physical touch points.
Vinod Easwaran said payments banks can earn through fees, transactions, merchant services and financial-product distribution.
- Who
- Jio Payments Bank Managing Director and CEO Vinod Easwaran, along with the wider payments bank industry.
- What
- The industry is seeking greater flexibility to revise prices for certain services as operating costs rise.
- When
- The comments were made during an interaction at the Global Fintech Fest; no specific date was provided.
- Where
- At the Global Fintech Fest; the event’s location was not specified.
- Why
- Some pricing caps, including those for Aadhaar-enabled Payment System services, have remained unchanged while the cost of doing business has increased.
- Industry model
- Payments banking is described as a high-volume, low-margin business.
- Pricing concern
- Pricing caps for products such as Aadhaar-enabled Payment System services have remained unchanged since licences were issued.
- Jio strategy
- Jio Payments Bank is focusing on hyper-accessibility, user experience and intelligent savings.
- Physical network
- The bank plans to combine digital services with more than 500,000 physical touch points.
- Account opening
- Customers can open an account in under five minutes, according to Vinod Easwaran.
- Artificial intelligence
- The bank is using AI for operations, fraud detection, risk management, customer emails, voice bots and transaction monitoring.
- Ownership change
- Jio Financial Services acquired the remaining stake in Jio Payments Bank and became its 100% owner.