Tamil Nadu’s TNRTP and IppoPay drive digital payments for rural businesses

By Gloria Methri

The Tamil Nadu Rural Transformation Project (TNRTP), a joint initiative between the Government of Tamil Nadu and the World Bank, has partnered with IppoPay, a digital payment provider, to accelerate the digital transformation of rural businesses.

The initiative has already facilitated ₹336 crores in loans for over 10,000 enterprises across 31 districts and 120 blocks in Tamil Nadu, alongside ₹112 crores in grants to support these businesses.

The partnership with IppoPay has enabled UPI QR codes for digital payments, making transactions seamless and accessible for rural entrepreneurs, small businesses, and self-help groups.

In 2022, TNRTP partnered with IppoPay to help rural entrepreneurs adopt digital payments using UPI QR codes. Many merchants who received financial aid through TNRTP’s Matching Grant Program were onboarded as IppoPay merchants, giving them both financial support and access to modern payment solutions.

With IppoPay’s support, merchants who once relied on cash transactions now have UPI QR codes, a user-friendly app in local languages, and essential financial tools. This shift has processed ₹151 crores in transactions over two years, making financial management easier and boosting business efficiency.

A senior official from TNRTP stated, “Our collaboration with IppoPay has been pivotal in digitally transforming rural businesses through UPI-based solutions. By facilitating loans through partner banks and providing a 30% grant to each merchant under the Matching Grant Program, we are not only enhancing the economic prospects of rural entrepreneurs but also contributing to the overall development of rural Tamil Nadu. This initiative exemplifies the power of public-private partnerships in driving sustainable development.”

Mohan K, CEO of IppoPay, commented on the partnership, “At IppoPay, we are deeply committed to enabling digital inclusion and empowering underserved communities. Our collaboration with TNRTP has allowed us to extend our digital payment solutions to rural entrepreneurs, providing them with the tools they need to thrive in a digital economy. The success of this initiative is a testament to the transformative impact of technology and digital inclusion in driving rural prosperity.”