One97 Communications Limited, the owner of the leading payment and financial services company Paytm, has signed a memorandum of understanding (MoU) with the Andhra Pradesh government to manage initiatives in financial inclusion, cyber security, public health and empowerment of millions of merchants, hawkers and street vendors in the state.
The MoU was signed during the Andhra Pradesh Global Investors Summit 2023.
Under the MoU, Paytm plans on strengthening merchants, street vendors and street hawkers in the state to take digital payments and provide them access to its lending partner.
Paytm plans on extending the platform for providing e-government services, which will be accessible to all Paytm Super App users. In addition to that, the company also aims to empower various state government departments to accept digital payments through citizens and businesses, enhancing the service delivery for the people. The company also plans to enable digitalisation of toll plazas across the state for digital payments.