Guwahati: Paytm Payment Services Limited (PPSL) has inked an MoU with Arunachal Pradesh Innovation and Investment Park (APIIP) to create a startup ecosystem for the youth in the state, officials said on Thursday.
As per the MoU, Paytm Incubation Centre will provide its product to early-stage startups at a discounted price and offer free credits through the Paytm Startup toolkit to aid the business ventures of youths in Arunachal Pradesh in their early stage of growth.
This will nurture the startup ecosystem in the state and motivate young entrepreneurs, said an official statement.
The MoU was signed at the Arunachal Pradesh Innovation & Investment Park, the first state-owned marquee incubator in Itanagar in the presence of its CEO Tabe Haidar.
“We are happy to partner with the government of Arunachal Pradesh in its journey to create a vibrant startup ecosystem. At the Paytm Incubation Centre, we strive to catalyse the startup ecosystem in India and help young entrepreneurs gain new user acquisition, access funds and more facilities, the spokesperson of Paytm Payment Services said.
“Our comprehensive platform helps businesses to expand their digital presence with quick integration of payment, brand and commerce solutions,” he added.
Paytm is India’s payment app, which offers consumers and merchants payment services. It is a pioneer of mobile QR payments in the country.
According to the statement, it enables commerce for small merchants and distributes various financial services offerings to its consumers and merchants in partnership with financial institutions.