back Back

PayNearby offers digital banking to customers in flood-affected Assam

By Leandra Monteiro

July 06, 2022

  • Assam
  • Business Correspondents
  • Cash Disbursal

PayNearbyIn a big relief effort, the residents of flood-devastated Assam have now received a lifeline as Business Correspondents (BCs) of PayNearby, India’s digital payments and largest branchless banking network, are now sailing on boats to offer essential banking and financial services to the population of the flood-stricken villages. With the aid of Micro ATM and Aadhaar ATM, they are helping citizens across 265 flood-hit villages to avail cash withdrawal services.

For a population of over three crores, the floods have considerably impacted the economy of Assam, affecting more than 31.54 lakhs in 26 districts. During these times, the citizens have little to no access to services or even cash on hand to consider buying necessities. In difficult times, the BC network in India, a large percentage of which is registered with PayNearby, has been crucial in ensuring that the general public’s access to essential financial services is not interrupted and made available at their doorsteps.

PayNearby’s network of over 20,000+ retail partners in Assam is serving as cash disbursal points. These retailers commute on foot or in small boats, converting them into cash points, equipped with AePS biometric devices and Micro ATMs to provide cash to the underprivileged in the affected areas.

Speaking on the relief work, Anand Kumar Bajaj, Founder, MD & CEO, PayNearby, said, “It is a tough time for the citizens of Assam. Reaching out to their doorsteps and aiding them with cash is the need of the hour. Our retail partners are at the forefront, ensuring that people in these areas have uninterrupted access to cash to endure the flood and its aftermath. More than 40,000 villagers have used the service, withdrawing around 20 crores.”

“As an organization founded on the principle of service backed by cutting-edge technology and innovation, we have always believed in utilizing technology for addressing the unmet needs of the last mile. The relief work done by our foot soldiers in Assam against all odds is in sync with our motto to serve unabated at all times. We feel privileged to be able to contribute towards the relief efforts and are working hard to make sure that all transactions are completed successfully. Our commitment to stand with the country and bring last-mile uninterrupted service to all remains stronger than ever.”

Previous Article

July 06, 2022

Wirex announced the launch of Wirex Credit

Read More
Next Article

July 06, 2022

Morabaha Marina acquires majority stake in Loop

Read More

IBSi Daily News Analysis

digital wallets

March 01, 2024


Banking Sector and regulatory framework: addressing India’s growing demand for secure lockers

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


Hecto Financial eases cross-border transactions with new solution

Read More


Marqeta & AffiniPay team to launch SMB credit card solution

Read More


AsiaVerify & Visa to bolster digital payments and banking in APAC

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!
Get your copy now! IBSi Sales League Table 2023