March 7, 2023
1 min read

Paytm, Andhra govt team up to empower merchants

The MoU was signed on the sidelines of the Andhra Pradesh ‘Global Investors Summit 2023…reports Asian Lite News

One97 Communications Limited, that owns leading payments and financial services company Paytm, on Monday announced it has signed a memorandum of understanding (MoU) with the Andhra Pradesh government to drive initiatives in financial inclusion, public health and cyber security and empower millions of merchants, street vendors and hawkers in the state.

The MoU was signed on the sidelines of the Andhra Pradesh ‘Global Investors Summit 2023’, in the presence of Saurabh Gaur, Secretary, IT, Electronics and Communications, state government and Vijay Shekhar Sharma, Founder, Managing Director and CEO, Paytm.

“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,” said Sharma.

“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,” he added.

Under the MoU, Paytm plans to empower merchants, street vendors and ‘ChiruVyaparulu’ (street hawkers) in the state to accept digital payments and provide them access to loans through its lending partners.

Paytm plans to extend its platform for providing e-government services, which will be conveniently accessible to all Paytm Super App users.

Additionally, the company aims to empower various state government departments to accept digital payments from citizens and businesses, thereby enhancing service delivery for the people.

The company proposed to also enable the digitisation 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.

Paytm also plans to conduct cybersecurity training for state police personnel and launch a joint campaign to raise awareness of cybersecurity best practices among citizens, particularly those residing in non-urban areas.

ALSO READ: New AI tech to pick donor organs for transplant

Previous Story

‘Indian startups must tap Southeast Asian digital markets’

Next Story

India, Uruguay to strengthen political, economic ties

Latest from Business

RBI Holds Rates, Boosts Outlook

One of the most significant announcements was the upward revision of India’s GDP growth forecast for FY 2025–26—from 6.5% to 6.8% In a move reflecting cautious optimism, the Reserve Bank of India

Nykaa Expands Global Footprint with UK Debut

To commemorate this significant global debut, Nykaa’s leadership hosted an exclusive soiree at the George Club in Mayfair, London Nykaa, India’s leading beauty and lifestyle destination, is set to make a grand

Nothing’s CMF Goes Indian with $100M JV

Company has announced a $100 million joint venture with Indian electronics manufacturer Optiemus Infracom Limited….reports Asian Lite News Smartphone maker Nothing has spun off its budget sub-brand CMF into an independent subsidiary,

Airbnb Boosts India Economy

Among international guests, the largest inbound sources were the United States, United Kingdom, Canada, and Australia Hospitality giant Airbnb made a significant impact on India’s economy in 2024, contributing Rs 113 billion

Rupee, Markets Gain Amid Trade Optimism

Emerging market currencies, including the rupee, have gained support amid softening in the dollar. Reports suggesting that the US economy is on the verge of a recession have contributed to the greenback’s
Go toTop

Don't Miss

Modi to celebrate Diwali with soldiers at LoC

Indian Army Chief General Manoj Mukund Naravane carried out an

What 2023 means for Indian startups

The early-stage startup funding momentum in India continues in an