PayNearby, a digital payment company, today announced that it is now available in Jammu and Kashmir, Sela Pass in Arunachal Pradesh on the Indochina border and Lakhpat in Gujarat on the Indo-Pakistan border . PayNearby has enabled QR codes and micro vending machines in local stores to modernize their stores and make them digital to meet the needs of locals and tourists.
This will help to further strengthen PayNearby’s presence in places where accessibility of financial and digital services is limited for the underbanked and unbanked population of Bharat, while accelerating the democratization of digital payments in the country, said the society.
Anand Kumar Bajaj, Founder, Managing Director and CEO of PayNearby, said, “PayNearby is on a mission to make financial and digital services accessible to everyone, everywhere. Our business partners in the hinterland are a step in the direction of our commitment to the nation’s last mile financial empowerment agenda. In remote areas, the number of ATMs is often few. PayNearby’s entry into these areas will ensure that locals get cash withdrawals and other basic banking services close to home through our retail partners. For example, according to PMJDY, J&K has over 25 lakhs beneficiaries of which over 21 lakhs reside in rural and semi-urban areas. Now, people in these areas would not have to travel long distances or queue at a bank branch to receive these government benefits. »
“At PayNearby, we believe that financial empowerment only succeeds if its most distant citizen and we are delighted that today PayNearby is present on all terrains, from 42°C in Lakhpat, Kachchh to -10°C to Sela Pass, Tawang to the distant domains of J&K. We will continue this effort to include more and more villages in our network until every village in Bharat is connected. PayNearby, Zidd Aage Badhne Ki,” added Mr Bajaj.
Currently, we have already recruited 200 local partners who will work with us for the advancement of Kashmir’s last mile. PayNearby, through its technology-backed DaaS (Distribution as a Service) network of over 50 lakh micro-entrepreneurs, serves 75% of India through over 17,600 PINs and enables services such as Cash Pickup, Remittances, Aadhaar Banking, Bill Pay and Recharges, Savings, Travel, Digital Payments, Insurance and more, at a store nearby. Through retailer empowerment, the company is ensuring that every citizen finds financial and digital services in their locality, jumps on the digital payment bandwagon and gradually embarks on the path to uncash India, the company said. .