PayNearby introduces the Digital Naari platform to generate long-term self-employment opportunities for women

PayNearby, India's foremost branchless banking and digital network, has introduced the Digital Naari platform with the aim of fostering long-term self-employment opportunities for women across rural India. This initiative is crafted to offer additional avenues for income generation for women in rural and semi-urban regions, acknowledging their crucial role as equal contributors to the nation's progress.

In alignment with the Government's 'Lakhpati Didi' initiative, the platform endeavors to onboard and empower 100,000 women by the conclusion of 2025, facilitating their economic independence. The objective is to support women entrepreneurs, single women, and those facing literacy challenges in attaining sustainable livelihoods, thereby enhancing their financial stability and promoting self-sufficiency.

Through the Digital Naari platform, empowered female agents can provide a wide array of financial and digital services to the masses. These agents, referred to as 'banker didis,' will have the flexibility to deliver services according to their convenience in terms of timing, location (either from home or a store), and product preferences. The services offered cater to the needs of rural women and include cash withdrawals, bank account openings, money transfers, recharges, insurance and asset assurance, credit facilities, and e-commerce transactions.

Presently, PayNearby boasts a network of over 10,000 women agents who collectively facilitate transactions exceeding Rs 1000 crore annually. The Digital Naari platform aims to expand this network by collaborating with organizations, self-help groups, and individuals dedicated to promoting sustainable livelihoods among rural women.
Established in April 2016, PayNearby operates on a B2B2C model, forging partnerships with local retail outlets to empower them with digital and financial service capabilities for their communities. The company's mission is to streamline sophisticated technology for easy integration at the grassroots level, thereby enhancing the lives of its retail partners and clientele.

Through its tech-driven Distribution as a Service (DaaS) network, PayNearby serves approximately 75% of India, offering an array of services including cash withdrawals, remittances, Aadhaar banking, bill payments, recharges, savings, travel bookings, digital payments, and insurance. Presently, its network of over 5 million micro-entrepreneurs spans across 20,000 PIN codes, catering to over 300 million customers nationwide with transactions totaling more than Rs 8000 crores Gross Transaction Value (GTV) per month.