| Digital Financial Services | Instant money transfers, AEPS, Micro ATM, payment solutions via agent platform. | Wide agent network and integrated platform creating high entry barriers. | B2B agents and distributors; B2C end-users in banking and payments. | Micro ATM and digital QR payment services. | 15 | 70 | Commission-based revenues from transactions and service fees. | Transaction-based commissions and service charges. | Rising digital payments adoption and government financial inclusion. | Q-BRIDGE, MOS Digital QR |
| Travel & Insurance | Flight bookings, hotel reservations, and insurance premium sales (travel, health, vehicle). | Established agent base and integrated tech platform. | B2C travelers and insurance buyers through agents. | Insurance premium sales and travel bookings. | 4 | 18 | Booking commissions and insurance commissions. | Commission on bookings and premiums. | Growing demand for online travel and insurance services. | IRCTC Tourism |
| Utility & Courier Services | Bill payments, courier franchises, Mera Adhikar and related utility services. | Franchise model and multi-service platform synergy. | B2C utility customers and franchise partners. | Courier franchise operations and utility payments. | 3 | 12 | Service fees and franchise commissions. | Fee per transaction or franchising fees. | Increasing utility digitization and last-mile courier demand. | MOS Courier, Utility Bill Payment Services |
