Paytm Inks Pact With Andhra Govt For Initiatives In Financial Inclusion

Digital financial services firm One97 Communications that owns Paytm brand on Monday announced it has signed an agreement with the Andhra Pradesh government to drive initiatives in financial inclusion, public health, cyber security.

The Memorandum of Understanding was inked 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," according to a company release.

Under the pact, Paytm plans to empower merchants, street vendors and 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 (Government of Andhra Pradesh) departments to accept digital payments from citizens and businesses, thereby enhancing service delivery for the people of Andhra Pradesh," the release said.

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 conduct 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," the release added.

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