New Delhi, Sep 22 (TIWN): India’s fintech market is expected to reach $1 trillion by 2030, from $31 billion in 2021, according to Chief Economic Advisor Dr V. Anantha Nageswaran. As the fintech industry aims to reach new horizons, Mintoak, a homegrown embedded fintech platform is enabling banks to digitally empower their merchant ecosystem by powering digital payments and financial services.

Mintoak has built a modularised, cloud-native, API-first payments Platform-as-a-Service (PaaS) that allows their banking partners to deploy and rapidly scale value-added services (payments, lending, engagement) to their tens of millions of SME customers.

Raman Khanduja, CEO and Co-founder of Mintoak, told IANS that with the help from next-gen AWS Cloud, the company aim is to reconnect banks with their entire base of SME merchants by transforming merchants’ mobile phones as the medium to accept all forms of payments and deliver a complete stack of commerce enablement solution in an integrated manner.