Imagine the Indian fintech industry as a Bollywood dance sequence. It begins in the early 2000s, with a few enthusiastic background dancers, mainly startups like Paytm and ItzCash, shaking to the primitive rhythms of dial-up internet. The choreography was less "smooth moonwalk" and more "clunky robot dance," but the spirit? Unmatchable!
As the beat of technology quickened, so did the steps. By the 2010s, the stage was ablaze with newcomers, each adding their own flair to the routine—swiping, tapping, and clicking their way into the hearts of millions. Mobile wallets, digital banking, and e-commerce platforms pirouetted around the traditional banking giants, who were still trying to tie their shoelaces and join the routine.
Today, the Indian fintech dance floor is crowded. It's a vibrant, chaotic medley—part traditional garba, part trendy hip-hop, and entirely enthralling.
In this episode, Navin Surya, ex-MD and CEO of ItzCash joins us to help us understand the fintech medley of motion.