Paytm Strengthens Financial Inclusion in Andhra Pradesh with Innovative MoU

Paytm, India’s top payments and financial services company, has inked an understanding with the Government of Andhra Pradesh on the sidelines of the Andhra Pradesh Global Investors Summit 2023.

The Memorandum of Understanding (MoU) was signed by Shri Saurabh Gaur, Secretary, Information Technology, Electronics and Communications, Government of Andhra Pradesh and Shri Vijay Shekhar Sharma, Founder, Managing Director and CEO of the One97 Communications Limited (OCL), the brand’s owner, with the intention of fostering collaboration in the areas of Industrial Development, Financial Inclusion, Public Health, Cyber Security and Prevention of Financial Frauds.

In accordance with its mission of bringing half a billion Indians into the mainstream economy, Paytm plans to empower merchants, street vendors, ChiruVyaparulu (street hawkers) and citizens in Andhra Pradesh through a Memorandum of Understanding (MoU). This will provide them with access to digital payments and loans through its lending partners. Furthermore, the company is proposing to extend its platform to the Government of Andhra Pradesh to facilitate eGovernment services, which will be accessible to all Paytm Super App users. Additionally, Paytm is looking to enable various GoAP departments to accept digital payments from citizens and businesses, in order to enhance service delivery for the people of Andhra Pradesh. The company also proposed to digitize toll plazas across the state to accept payments digitally. Moreover, Paytm is intending to cooperate with the State Health Authority in order to facilitate convenient OPD appointment booking at government and private hospitals under the upcoming Unified Health.

Vijay Shekhar Sharma, the Founder and CEO of Paytm, expressed his delight in partnering with the Government of Andhra Pradesh with the aim of fostering sustainable development and inclusive growth. He further stated that the collaboration was a step towards achieving Financial Inclusion at the last mile, and Paytm will continue to empower the people of Andhra Pradesh by providing mobile payments and access to various financial services to numerous small businesses.

Originally published at https://cxotv.techplusmedia.com on March 7, 2023.