- Demonstrates commitment towards financial inclusion and supporting the growth of Andhra Pradesh
- To empower lakhs of merchants with access to digital payments and financial services
- Agreement in line with Paytm’s mission to bring half a billion Indians into the mainstream economy
- MoU signed in presence of Shri Saurabh Gaur, Secretary, ITE&C, GoAP and Shri Vijay Shekhar Sharma, Founder and CEO of Paytm
One 97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR and mobile payments, today announced that it has signed a Memorandum of Understanding (MoU) with the Government of Andhra Pradesh (GoAP) on the sidelines of the Andhra Pradesh Global Investors Summit 2023. The agreement aims to promote mutual cooperation in the areas of Industrial Development, Financial Inclusion, Public Health, Cyber Security and Prevention of Financial Frauds in the state of Andhra Pradesh.
The agreement was signed in the presence of Shri Saurabh Gaur, Secretary, Information Technology, Electronics and Communications, Government of Andhra Pradesh and Shri Vijay Shekhar Sharma, Founder, Managing Director and CEO of Paytm.
Under the MoU and in alignment with its mission of bringing half a billion Indians into the mainstream economy, Paytm plans to empower merchants, street vendors, and ChiruVyaparulu (street hawkers) in Andhra Pradesh to accept digital payments and provide them access to loans through its lending partners. Paytm plans to extend its platform to the Government of Andhra Pradesh for providing eGovernment services, which will be conveniently accessible to all Paytm Super App users. Additionally, Paytm plans to empower various GoAP departments to accept digital payments from citizens and businesses, thereby enhancing service delivery for the people of Andhra Pradesh. The company proposed to also enable the digitization of toll plazas across the state to accept payments digitally.
In the area of Public Health, Paytm proposed to collaborate with the State Health Authority in facilitating seamless OPD appointment booking at government and private hospitals under the forthcoming Unified Health Interface (UHI) programme. As part of its commitment to promote safe and secure digital payments, Paytm plans to be conducting cybersecurity training for Andhra Pradesh police personnel and launch a joint campaign to raise awareness of cybersecurity best practices among citizens, particularly those residing in non-urban areas.
Vijay Shekhar Sharma, Founder and CEO, Paytm said, “We are happy to partner with the Government of Andhra Pradesh in their journey of sustainable development through inclusive growth. We are fully committed to driving Financial Inclusion at the last mile and this partnership is a step in that direction. We will continue to empower the people of Andhra Pradesh by enabling lakhs of small businesses with mobile payments and access to various financial services.”
Paytm is India’s payment Super App offering consumers and merchants most comprehensive payment services. Pioneer of mobile QR payments revolution in India, Paytm’s mission is to bring half a billion Indians into the mainstream economy through technology-led financial services. Paytm enables commerce for small merchants and distributes various financial services offerings to its consumers and merchants in partnership with financial institutions.
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