One97 Communications Limited (OCL) the parent of the Indian fintech firm Paytm, signed a memorandum of understanding (MoU) with the Government of Andhra Pradesh (GoAP) on the sidelines of the Andhra Pradesh Global Investors Summit 2023.
According to a company statement, the agreement aims to promote mutual cooperation in the areas of industrial development, financial inclusion, public health, cyber security and prevention of financial fraud in the state of Andhra Pradesh.
The agreement was signed in the presence of Saurabh Gaur, Secretary, Information Technology, Electronics and Communications, Government of Andhra Pradesh and Vijay Shekhar Sharma, Founder, Managing Director and CEO of Paytm.
Under the MoU, 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 eyes extending its platform to the GoAP for providing eGovernment services, which will be conveniently accessible to all Paytm Super App users. Additionally, it targets 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. The company will 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.
Vijay Shekhar Sharma, founder and CEO of 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 to 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.”