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Paytm, AP Govt Sign MoU To Drive Initiatives In Financial Inclusion, Public Health, Cyber Security

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 Andhra Pradesh

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Paytm has signed a memorandum of understanding (MoU) with the Andhra Pradesh government at Global Investors Summit 2023, to drive initiatives in financial inclusion, public health and cyber security.

The agreement was signed in the presence of Saurabh Gaur, Secretary, Information Technology, Electronics and Communications, AP government and Vijay Shekhar Sharma, Founder, Managing Director and CEO, Paytm. 

Under the MoU, Paytm is planning to empower merchants, street vendors, and ChiruVyaparulu (street hawkers) in Andhra Pradesh to accept digital payments and provide them access to loans through its lending partners. 

The company in a statement said that it is also planning to extend its platform to Andhra Pradesh government for providing eGovernment services, which will be conveniently accessible to all Paytm Super App users.  

Vijay Shekhar Sharma, Founder and CEO, Paytm said, “We are fully committed to driving Financial Inclusion at 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.”