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Paytm signs MoU with Ayodhya Nagar Nigam


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One97 Communications Ltd (OCL), the parent company of the Paytm brand, has entered into a Memorandum of Understanding (MoU) with Ayodhya Nagar Nigam to facilitate mobile payments in Ayodhya through the utilization of Paytm’s QR code, Soundbox, and card machines.

This initiative is designed to offer seamless mobile payment services, especially during the highly anticipated inauguration of the Ram Mandir in the city on January 22. Through this collaboration with Ayodhya Nagar Nigam, Paytm aims to enable mobile payments across various departments.

As part of the MoU, Paytm will also deploy its card machines at cash collection centers operated by State Nagar Nigam departments. The agreement was formalized in the presence of Girish Pati Tripathi, the Mayor of Ayodhya Nagar Nigam, as Paytm extends its reach in promoting financial inclusion nationwide.

Abhay Sharma, Chief Business Officer – Payments at Paytm, expressed excitement about the collaboration, stating, “In anticipation of the grand inauguration of the Ram Mandir, Paytm is pleased to partner with Ayodhya Nagar Nigam to provide convenient and secure digital/mobile payment solutions for the millions of devotees visiting the sacred city. This partnership underscores Paytm’s commitment to supporting the local community and aligning with government initiatives.”

Girish Pati Tripathi, Mayor of Ayodhya Nagar Nigam, echoed the sentiment, saying, “As Ayodhya gears up to welcome millions of devotees for the Ram Mandir inauguration, we are delighted to join forces with Paytm to ensure a smooth and efficient digital payment experience. We anticipate a fruitful partnership with Paytm in enhancing overall convenience and digital infrastructure in Ayodhya.”

Paytm, known for spearheading the mobile QR payments revolution in India, continues to consolidate its position in in-store payments, boasting more than 92 lakh Paytm pioneering devices, including Soundbox and Card Machines, in the quarter ending September 2023.

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