Mumbai, 06 July 2022: In a big relief effort, the residents of flood-devastated Assam have now received a lifeline as Business Correspondents (BCs) of PayNearby, India’s leading 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 putting its best foot forward to serve as the 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.”
Incepted in April 2016, PayNearby is a DPIIT-certified company and India’s leading branchless banking and digital payments network. PayNearby operates on a B2B2C model, where it partners with neighbourhood retail stores and enables them with the tools to provide digital and financial services to local communities. PayNearby’s mission is to make financial services available to everyone, everywhere. The company aims to simplify high-end technology so that it can be easily assimilated at the last mile while transforming the lives of its retail partners and customers.
Today, PayNearby, through its tech-led DaaS (Distribution as a Service) network, serves 75% of India and is enabling services like cash withdrawal, remittance, Aadhaar Banking, bill payment and recharges, savings, travel, digital payments, insurance and more. Currently, PayNearby’s 50 lakh plus microentrepreneurs across 17,600+ PIN codes assist 20+ crore customers across the country to the tune of more than ~7000 crores GTV per month.
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- Source – PR
- Published Date – July 6, 2022