PhonePe Revolutionizes MSMEs with Udyam Assist Platform
PhonePe launches the Udyam Assist Platform in Delhi, allowing micro enterprises to gain digital business certification. In partnership with the MSME Ministry and SIDBI, this initiative will help entrepreneurs become self-reliant and provide access to government benefits. It aims to offer a seamless integration for over 2.75 crore micro-entities.
- Country:
- India
In a remarkable stride towards the empowerment of micro, small, and medium enterprises (MSMEs), fintech giant PhonePe announced the launch of its Udyam Assist Platform (UAP) in New Delhi on Wednesday. The event, graced by Union Minister for MSMEs Jitan Ram Manjhi, unveiled a digital-first approach to foster self-reliance among Indian enterprises.
This new platform offers a distinctive digital onboarding and business certification process for merchants, marking PhonePe as the first fintech to deliver such a comprehensive solution. Speaking on the launch, Minister Manjhi emphasized the significance of partnerships between the government and private sector to eliminate challenges faced by MSMEs.
PhonePe CEO Hemant Gala highlighted that providing micro-merchants with a formal business identity would pave the way for access to financial services and government schemes. The UAP has already issued certificates to over 2.75 crore small businesses, promoting an inclusive financial ecosystem for underrepresented sectors.
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