Assam floods

New Delhi: PayNearby, a digital payments facilitator with a branchless banking network, has been delivering cash withdrawal services by sailing through boats in flood-affected villages in Assam, the company said on Wednesday.

The banking services are being channelled through Kirana stores in the state, offering cash withdrawal facilities to around 40,000 customers residing in villages marooned by flood waters, the company said.

The business correspondents of PayNearby are now sailing on boats to offer essential banking and financial services to the population of the flood-stricken villages, the company said in a release.

With the aid of Micro ATM and Aadhaar ATM, they are helping citizens across 265 flood-hit villages to avail cash withdrawal services, it said.

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 said.

The company said floods have impacted the economy of Assam, having a population of over 3 crore, affecting more than 31.54 lakh people in 26 districts.

The company said its network of over 20,000 retail partners in the north eastern state 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.

“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, “Anand Kumar Bajaj, Founder, MD & CEO, PayNearby said.

Starting in 2016, PayNearby operates on a B2B2C model, partnering with neighbourhood retail stores and enabling them with the tools to provide digital and financial services to local communities.

Also read: Rajya Sabha MP Pabitra Margherita appointed Assam CM’s Political Secretary


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