back Back

PayNearby extends digital payments to Indo-China and Indo-Pak borders

By Leandra Monteiro

May 26, 2022

  • China
  • Digital Payments
  • Financial Inclusion
Share

PayNearbyIn continuation with its commitment to empowering the last mile financially and digitally across the length and breadth of the country, PayNearby announced that it is now available in Jammu & Kashmir along with Sela Pass in Arunachal Pradesh on the Indo-China border and Lakhpat in Gujarat on the Indo-Pakistan border.

PayNearby has enabled QR codes and Micro ATMs to upgrade local shops and make them digital savvy to cater to both locals and tourists. This step is to further strengthen PayNearby’s presence in locations where accessibility of financial and digital services is limited for the underbanked and unbanked population of Bharat while accelerating the democratisation of digital payments in the country.

For more inclusive growth, PayNearby’s micro-entrepreneurs are now serving in the neighbourhoods of Jammu & Kashmir, in Sela Pass – one of the highest military and civilian operational fields on the India-China border and at Lakhpat – India’s last village on the India-Pakistan border to bring essential financial services to the areas.

Speaking on the development, Anand Kumar Bajaj, Founder, MD & CEO, PayNearby said, “PayNearby is on a mission to make financial and digital services available to everyone, everywhere. Our retail partners in the hinterlands are a step in the direction of our commitment towards the agenda of financial empowerment at the last mile in the country. In remote areas, the number of ATMs is often far and few. PayNearby’s entry into these areas will ensure that the local population gets cash withdrawal and other basic banking services near their house through our retail partners. For example, as per the PMJDY, J&K has more than 25 lakh beneficiaries of which more than 21 lakhs reside in rural and semi-urban areas. Now, people in these areas wouldn’t have to travel long distances or stand in a queue at a bank branch to avail of these government benefits.”

“At PayNearby, we believe that financial empowerment is only as successful as its remotest citizen and we are delighted that today PayNearby is present in every terrain from 42°C in Lakhpat, Kachchh to – 10°C in Sela Pass, Tawang to the remote areas of J&K. We will continue this endeavour to include more and more villages in our network till every village in Bharat is connected. PayNearby, Zidd Aage Badhne Ki,” Bajaj added.

Previous Article

May 26, 2022

SH Payments joins the CENTROlink network giving clients access to the SEPA

Read More
Next Article

May 26, 2022

Mambu and Brim Financial to deliver digital banking, embedded finance products platform

Read More








IBSi Daily News Analysis

UAE

February 27, 2024

China

Saudi Arabia’s FinTech market poised for exponential growth: vision 2030 sparks innovation surge

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Geidea strengthens operations in Saudi Arabia with key leadership appointments

Read More

Today

Aevi and Silverflow partner to support banks in Europe & North America

Read More

Today

Aryza taps Acquired.com to offer secure, convenient payment options

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023