Infibeam Avenues subsidiary GoPayments to foray into neobanking

New Delhi: GoPayments, a subsidiary of Infibeam Avenues NSE 1.33 %, will foray into neo-banking to provide digital and mobile-first financial solutions payments and money transfers, secured money lending, express settlement, corporate credit card, prepaid cards among other services, it said.

A neobank is a kind of digital bank without any branches. Rather than being physically present at a specific location, neobanking is entirely online.