Andhra govt, Paytm partner to empower women's SHGs with digital transactions

The Andhra Pradesh government’s Mission for Elimination of Poverty in Municipal Areas has partnered with fintech company Paytm on Thursday to promote digital financial inclusion.

As part of this collaboration, Paytm will enable the women's Self Help Groups (SHG) and their families to make fast, secure and reliable digital transactions through its payment solutions.

“Paytm signed a Memorandum of Understanding (MoU) with MEPMA, under the Government of Andhra Pradesh to empower women SHGs and their families by enabling fast, secure, and reliable digital transactions through Paytm’s innovative payment solutions,” said a press release.

Signed in the presence of MEPMA mission director N Tej Bharath, Paytm will make use of this collaboration to strengthen financial inclusion and digital payments adoption across SHG networks in urban Andhra Pradesh.

The agreement focuses on empowering women-led enterprises to integrate UPI and QR code payments, along with Paytm soundbox and all-in-one POS (point of sale) card machines, enabling them to accept multiple formats of payments with ease.

“Our mission has always been to uplift women through self-reliance and sustainable livelihoods. This collaboration with Paytm marks an important step in equipping SHG women with the power of digital payments,” said Bharath.

Further, the partnership between the southern state and Paytm will offer real-time transaction insights and reports to the participants.