airpay launches airpay money to improve financial literacy

By Vriti Gothi

airpay launched airpay Money, a financial wellness platform, to tackle the country’s widespread financial literacy gap. The solution aims to help make informed, confident money decisions.

According to recent estimates, India’s FinTech market is set to reach a value of $420 billion by 2029. Despite this growth, only around 27% of Indians are considered financially literate, leaving many millions to navigate increasingly complex financial products and decisions alone. airpay Money seeks to address this issue by providing unbiased, practical support for individuals earning between $233 and $874 per month, a group often underserved by premium wealth advisory services.

At the core of the platform is its proprietary Financial Wellness Score, which assesses users’ financial health across income stability, preparedness for emergencies, debt exposure, and saving behaviour. Rather than promoting specific products, the service focuses on goal-based financial planning and education to help users build long-term security.

This emphasis reflects wider structural challenges. Despite the rapid adoption of digital payments, the National Payments Corporation of India (NPCI) reports more than 13 billion UPI transactions each month. A 2023 report by the Reserve Bank of India found that 65% of Indians lack an emergency fund, while household debt has risen by 14% annually since 2018.

airpay Money aims to reach 20 million users within three years, with a particular focus on urban and semi-urban populations. The platform’s approach is based on insights from over 150,000 early users.

Alongside its core features, which include goal-based planning, behavioural nudges, multi-language support and tailored tools for women, young adults and first-time earners, the platform will also pursue partnerships with employers. By integrating financial education into corporate wellness programmes, airpay Money hopes to tackle a key factor affecting workplace productivity. According to SHRM India, around 80% of Indian employees cite financial stress as a barrier to effective work.

By bridging a gap in financial understanding for millions, airpay Money positions itself as a platform with the potential to reshape how India’s middle class approaches saving, spending and planning for the future.

Kunal Jhunjhunwala, Founder and CEO of airpay, said, “Unlike transaction-focused FinTech apps or those pushing product sales, airpay Money prioritises financial education and habit-building. We’re not here to sell products; we’re here to be a financial friend and mentor, guiding users towards clarity and control.”

Kumar Binit, CEO of airpay Money, said, “Our research revealed that this segment doesn’t need complex investment products; they need fundamental financial confidence. Our mission is simple: no Indian should feel hesitant when taking financial decisions towards their financial wellness journey.”