Paytm, an Indian payments company, has deployed 800 electronic data capture (EDC) devices across 42 Krishi Mandis in Madhya Pradesh, as announced today. This initiative aims to digitise agricultural sales and enhance financial inclusion for farmers and traders.
The shares of One 97 Communications Limited (OCL) that owns the brand Paytm were trading at ₹729.10 down by ₹2.25 or 0.31 per cent on the NSE today at 10.05 am.
The Paytm card machines have been integrated with the Krishi Mandi app, streamlining the sales process and reducing transaction times from days to hours. The devices facilitate payments, generate printed gate receipts, and create purchase orders, providing both digital and physical transaction records.
Paytm plans to install an additional 1,300 card machines in various Krishi Mandis nationwide over the next two years. The company’s spokesperson emphasised their commitment to empowering farmers and traders with advanced payment tools.
The National Informatics Centre (NIC) developed the eMandi application to digitise Mandi processes, which has been integrated with Paytm’s card machines. This integration addresses the need for physical transaction proofs while enhancing digital capabilities.
OP Khede, Secretary of APMC said, “We are dedicated to contributing to India’s digital journey and have equipped Mandis with Paytm Card machines. This initiative not only saves significant time but also enhances operational efficiency. The feedback has been overwhelmingly positive; both farmers and licensed traders are appreciating the new streamlined auction process enabled by these card machines. They are happy and excited about the faster and more efficient transactions.”