The initiative, aimed at providing impetus to digital payments among last-mile customers towards financial inclusion was launched by the chief minister YS Jagan Mohan Reddy on Monday, introducing UPI QR code in 15,004 village and ward secretariats.
In a statement, the AP government said NPCI’s flagship product UPI allows users to transfer money on a real-time basis, across multiple bank accounts without revealing details of one’s bank account to the other party.
“This first-of-its-kind initiative will not only reduce the time spent by villagers waiting in serpentine queues but also ensure secure, instant and contactless payments especially amid COVID-19 outbreak,” said the government.
The government has also designated a Digital Assistant, who will facilitate UPI payments for rural customers in the villages and transfer money to a common pool account where it is supposed to be credited.
“I am confident that UPI will enable numerous villagers to perform convenience and hassle-free cashless transactions,” said the chief minister YS Jagan Mohan Reddy. “We look forward to launch digital payments in other geographies as well in the near future and redefine digital payments in Andhra Pradesh.”
“We believe, equipping rural India with digital infrastructure and technology will create last mile penetration and help in the evolution of the digital payments space,” said Delip Asbe, MD & CEO of NPCI, adding that UPI has garnered great momentum during the pandemic where a record-breaking 149 crore transactions was undertaken in the month of July alone.
LV Prabhakar, MD & CEO of Canara Bank, said his bank was in the forefront in implementation of digital initiatives in tune with the ‘Digital India’ campaign. “Canara Bank being a premier Bank in the state has come forward to collaborate in this farsighted initiative of the Government of Andhra Pradesh and to provide UPI QR Code based payment system at more than 15000 Gram and Ward Secretariats (GSWS) in the state.”