Spice Money
Spice Money (issued by Spice Digital Ltd.) is a RBI approved Semi-closed PPI wallet linked to your mobile number. A robust and convenient tool for financial inclusion, Spice Money is predominantly used for Domestic Money Remittance, through agent assisted model. Spice Money is used mainly for money transfers within India, and processes over 4 million transactions for more than 2 million customers every month. To date, Spice Money has achieved a Gross Transaction Value (GTV) of $1 billion USD. “Legacy IT infrastructure is inflexibile, vulnerable to outages and ill-suited to the heavy demands of digital and mobile banking. Threetier infrastructure doesn’t scale and is expensive, making it impractical for a fintech conglomerate such as ourselves.”