In March 2025, Spice Money achieved a new milestone in Customer GTV, reaching ₹11,485 crore — surpassing its previous record of ₹11,387 crore set in October 2024. A significant driver of this growth was the Aadhaar-enabled Payment System (AePS), which contributed ₹5,306 crore to the overall GTV. With this surge, Spice Money’s AePS market share rose to 18.3%, further cementing its leadership in the rural fintech landscape. The sharp uptick in AePS volumes highlights the growing financial adoption and trust in digital services across underserved regions of India.
New Delhi, April 10, 2025 – Spice Money, a subsidiary of DiGiSPICE Technologies and India’s leading rural fintech platform, has reported its highest-ever performance across multiple service lines in March 2025. As the largest non-bank Business Correspondent (BC) network in the country, this milestone underscores Spice Money’s pivotal role in advancing financial inclusion across Bharat.
The company recorded an all-time high Customer Gross Transaction Value (GTV) of ₹11,485 crore, surpassing its previous record of ₹11,387 crore set in October 2024. Driving this surge was an extraordinary rise in Aadhaar-enabled Payment System (AePS) transactions, which reached ₹5,306 crore. This propelled Spice Money’s market share in AePS to an impressive 18.3%, reinforcing its leadership in inclusive banking across rural India.
A key contributor to this growth was the unprecedented sale of over 70,000 subscription packs — the highest to date. This reflects the increasing reliance of Spice Money’s Adhikaris (banking agents) on the platform to meet the financial needs of their communities. The adoption of these packs amplified transaction volumes, strengthening the network effect and further embedding Spice Money’s services into rural India’s financial fabric.
Another standout performance came from the company’s Cash Management Services (CMS), which doubled in volume—from ₹2,000 crore to ₹4,000 crore within just one month. This rapid growth highlights the growing demand for reliable, secure cash handling infrastructure in semi-urban and rural regions.
At the heart of this expansion is Spice Money’s formidable network of over 1.5 million Adhikaris, who serve as trusted financial touchpoints in remote areas. Their reach and credibility continue to bridge the banking gap for underserved populations.
Commenting on the achievement, Dilip Modi, Founder and CEO of Spice Money, said:
“This isn’t just a business milestone — it’s a testament to the rising financial confidence of rural India. As regulatory frameworks around non-bank BCs continue to evolve, our performance highlights the indispensable role Spice Money plays in building a digitally inclusive and financially empowered nation. We’re not just delivering financial services — we’re laying the foundation for a future-ready rural economy.”
As policy discussions around the regulation of non-bank BCs gain traction, Spice Money’s breakthrough month offers a compelling example of how interoperable, inclusive financial networks can drive large-scale impact. With every transaction, the company brings banking access to doorsteps across India, closing the financial gap and empowering real economic participation.
