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In a ground-breaking effort toward digitizing agricultural sales, One 97 Communications, Paytm’s parent firm, successfully installed 800 Paytm EDC devices (card machines) across 42 Krishi Mandis in Madhya Pradesh. This project marks the first time Paytm’s digital payment technology has been integrated with the Krishi Mandi app, considerably increasing the financial and operational efficiency of traders and farmers.
A Krishi Mandi is a major marketplace run by the state’s Agricultural Marketing Board that facilitates the direct sale of agricultural produce from farmers. Historically, agricultural sales in these Mandis may take several days to complete. However, with the launch of Paytm’s EDC devices, this period has been significantly shortened to a few hours.
The new card machines are useful for more than just allowing safe digital payments. They also print gate receipts and purchase orders, allowing farmers and dealers to preserve digital and physical records of transactions. This holistic strategy promotes increased openness, trust, and smooth operations in the agriculture market.
Paytm’s deployment of these devices is only the start. In the next two years, the business wants to expand this service by installing an additional 1,300 card machines at other Krishi Mandis. This demonstrates Paytm’s focus to tackling the particular issues confronting India’s agricultural communities, as well as its drive to increasing digital inclusion in rural areas.
Paytm’s deployment of these devices is only the start. In the next two years, the business wants to expand this service by installing an additional 1,300 card machines at other Krishi Mandis. This demonstrates Paytm’s focus to tackling the particular issues confronting India’s agricultural communities, as well as its drive to increasing digital inclusion in rural areas.
This strategic project is a critical step in empowering the agricultural sector, increasing financial inclusion, and promoting digital empowerment in India’s agricultural environment.