One97 Communications Limited (OCL), the owner of the Paytm brand and the pioneer of QR and mobile payments, today announced the signing of 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 state of Andhra Pradesh in the areas of industrial development, financial inclusion, public health, cyber security, and financial fraud prevention.
Paytm plans to empower merchants, street vendors, and ChiruVyaparulu (street hawkers) in Andhra Pradesh to accept digital payments and access loans through its lending partners under the MoU and in line with its mission of bringing half a billion Indians into the mainstream economy. Paytm intends to extend its platform to the Government of Andhra Pradesh in order to provide eGovernment services to all Paytm Super App users. Furthermore, Paytm intends to enable various GoAP departments to accept digital payments from citizens and businesses, thereby improving service delivery for Andhra Pradesh residents. The company also proposed digitising toll plazas across the state in order to accept payments digitally.
Under the upcoming Unified Health Interface (UHI) programme, Paytm proposed collaborating with the State Health Authority to facilitate seamless OPD appointment booking at government and private hospitals. Paytm plans to conduct cybersecurity training for Andhra Pradesh police personnel as part of its commitment to promote safe and secure digital payments, as well as launch a joint campaign to raise awareness of cybersecurity best practises among citizens, particularly those living in non-urban areas.
Paytm’s Founder and CEO, Vijay Shekhar Sharma, stated, “We are delighted to join the Government of Andhra Pradesh on their journey towards inclusive growth and sustainable development. We are fully committed to driving Financial Inclusion at the last mile, and this collaboration is an important step in that direction. We will continue to empower the people of Andhra Pradesh by providing mobile payments and access to various financial services to lakhs of small businesses.”