Paytm signs MoU with Andhra govt

NEW DELHI: One97 Communications Limited, that owns leading payments and financial services company Paytm, on Monday announced it has signed a memorandum of understanding (MoU) with the Andhra Pradesh government to drive initiatives in financial inclusion, public health and cyber security and empower millions of merchants, street vendors and hawkers in the state.

The MoU was signed on the sidelines of the Andhra Pradesh ‘Global Investors Summit 2023’, in the presence of Saurabh Gaur, Secretary, IT, electronics and communications, state government and Vijay Shekhar Sharma, founder, managing director and CEO, Paytm.

“We are happy to partner with the government of Andhra Pradesh in their journey of sustainable development through inclusive growth,” said Sharma.

Under the MoU, Paytm plans to empower merchants, street vendors and ‘ChiruVyaparulu’ (street hawkers) in the state to accept digital payments and provide them access to loans through its lending partners.

Paytm plans to extend its platform for providing e-government services, which will be conveniently accessible to all Paytm Super App users.