The economy has witnessed a rather grave cash crunch, post the announcement of Prime Minister of India, demonetizing the Indian currency notes of Rs 500 and 1000. While the move was meant to curb black money, the economy is yet to fully recover from the sudden shortage of cash. In order to ensure business runs smoothly, government bodies are increasingly turning towards PayU India and utilize its technical expertise and streamlined digital payments ecosystem.
The digital payments company has until now associated with several governmental bodies, hailing from diverse sections, such as education, health, ticketing and more. Some of these noteworthy organizations include E-Mitra, Delhi Development Authority (DDA), Punjab State Power Corporation, BESCOM, Tata Power Delhi Distribution Limited. Karnataka State Tourism Development Corporation (KSTDC), HP Subordinate Services Selection Board, West Bengal Tourism Development Corporation Ltd., National Highways Authority Of India, DELHI JAL BOARD, Noida special economic zone Authority, Indira Gandhi National Open University (IGNOU), National Institute of Open Schooling (NIOS), Food Safety & Standards authority of India (FSSAI), and National institute of Fashion Technology (NIFT)
Further commenting on the latest development, Shailaz Nag, COO, PayU India said, “It is a matter of immense pride for us to receive such queries from the government bodies for our digital payment solutions. We are further overwhelmed to propel the cause of digital payments, whilst ensuring financial inclusion for all and sundry. Since the shortage of cash put economy to a standstill, we are delighted to offer solutions that allow users to take monetary transactions online and ensure that the business continues. We further look forward to associating with governmental bodies and enabling the cause of democratizing digital payments.”
PayU India has been actively crusading for the cause of cashless economy and spread awareness amongst the merchants and consumers alike. With its unique and innovative products like PayUmoney Seller App and Sellfie, Pay U India has enabled a range of merchants and businesses ride on the digital wave within 2 minutes of on-boarding process.