Manav Rachna Group has partnered with Paytm, India’s largest mobile payments and commerce platform to enable cashless transactions at all major payment points within its campus. This initiative is in line with Paytm’s vision to introduce cashless payments in educational institutions across the country. Students can now pay their school fees, dues and cafeteria bills using Paytm.
As per the statistics, over 60 percent of the students in most campuses are already active users of the Paytm app. By minimizing cash, the initiative shall be highly beneficial for the students, teachers, the institution and parents alike.
This move is especially relevant in the light of the action plan made by Haryana’s Education Minister under which teaching and non teaching staff of colleges and universities would be brought under the cash less payment system to help promote the cause of a digital economy.
Welcoming the partnership with Paytm, Dr Prashant Bhalla, President, MREI, said, “We are proud to associate with Paytm to enable cashless transactions for our students. As a progressive and technology-driven institution, we feel such a tie-up will benefit students immensely for both fee payment and for small spends inside the campus. The initiative would no doubt help save their time and effort while averting the tedium of long queues. This Initiative would no doubt go a long way in supporting the cause of a digital economy as the whole of the country goes cashless in a big way. ”
Speaking about the partnership, Mr Kiran Vasireddy, Senior Vice President – Paytm, said, “Educational institutions will play a very important role in the digital revolution that is happening in our country. As Paytm, we have already enabled cashless payments for admission fee collections, canteens, tuck shops and other outlets across various schools and colleges. We believe our cashless campus initiative would definitely add momentum to our mission of making India, a cashless society.”
Paytm has extended its cashless payment solution to campuses through tie-ups with over 300 schools and colleges. Paytm also allows users to do online recharges and bill payments, book movie tickets, pay education fees, do travel bookings and shop for products online among others.
The aim of Paytm is to bring half a billion consumers to the mainstream economy and the company is working towards its goal by onboarding consumers and merchants from every nook and corner of the country.
Manav Rachna Educational Institutions (MREI) founded in 1997, has grown to become one of the best educational entities in the country and is recognized for excellence in professional education and research. A brainchild of Founder Visionary Dr O.P. Bhalla, a renowned educationist and philanthropist, MREI now encompasses a group of many vibrant, world class institutions.
Three of its Institutions (namely MRIU, MRU and MRDC) are NAAC ‘A’ grade accredited out of which MRIU has also been recently bestowed with the 5 Star QS rating for Teaching, Facilities Social Responsibility and Inclusiveness thus catapulting MREI to the premier leagues of higher educational institutions in the country.
The Group enjoys a rich legacy of a large number of filed patents, thousands of published research papers in international/national journals of repute and has to its credit prestigious awards in competitions at national and international levels. The Institution has also been able to establish long term relationships with reputed international Institutions/Universities across the globe and provides high quality education in various fields.
Paytm is India’s largest mobile payment and commerce platform. With the current user base of more than 170 million, Paytm is on a mission to bring half a billion Indians to the mainstream of the economy using mobile payment, commerce and soon to be launched payment banking services.
Consumer brand of India’s leading mobile internet company One97 Communications, Paytm is headquartered in New Delhi NCR. The company’s investors include Ant Financials (Alipay), Alibaba Group, SAIF Partners, Sapphire Venture, Mediatek and Silicon Valley Bank.
Source – For Press Release