Pay10 Empowering MSMEs in North-East India

• We must remember to keep North East India in mind when discussing digital payments in India.
• The goal of Pay10 [a brand of Bhartipay Services] is to give entrepreneurs who have succeeded in launching their firm all the resources available under MSME. To guide the development process for the growth and prosperity of the north-eastern area, the MSME today plays a significant role. But the industry has been up against a stiff battle. State-level initiatives to build economic and physical infrastructure are insufficient since state governments in the area rely significantly on federal funding. The flow of raw materials and completed commodities between states and beyond the area is hampered by the region's inadequate surface transportation and communication infrastructure.

MSMEs are viewed by Pay10 as a more feasible customer base than major corporations. They believe that MSMEs provide the nation and financial institutions with acceptable profits. They require a robust infrastructure and suitable market connections. These are the main elements that are innately conducive to the sector's expansion. Such essential elements being present would allow the NE area to reach its full potential.

We must remember to keep North East India in mind when discussing digital payments in India. Thanks to fintech businesses, MSME is managing internet transactions. Given the difficulties MSMEs in the region are now facing, Pay10 is focusing on all companies with significant development potential in order to serve the needs of the region's SMEs and remain competitive in the global marketplace.

One of the most well-known suppliers of payment solutions in India is Pay10. Today, Pay10 plays a significant role in guiding the development of the North-Eastern area in order to maximize progress and prosperity. We are collaborating with policymakers and planners to build a comprehensive plan for the quick growth of the industry, strengthening the relationship with MSME, and increasing productivity. Despite the fact that the Ministry of MSME administers a number of welfare programs, it has been discovered that there is a lack of understanding of the programs at the grassroots level, which has hindered the benefits from reaching the small business owner. By assisting all commercial ventures, we hope to reduce poverty and unemployment.

 In North-East India, Pay10 makes sure that individuals may get more from technology. Pay10 played a significant part in encouraging companies to accept online payments by providing creative and simple payment-taking options. This is a pioneer in proximity payments and e-commerce security.

Pay10 complies with regulatory regulations for online transactions and, as a supplier of digital payments, aids its bank clients in enhancing their digital client interactions in the areas of time management, invoicing and billing, and general CRM. We think that because SMEs perceive potential in it, they are pushing digitalization even harder. Pay10 has a mission to improve user adoption and user experience by streamlining administrative procedures and accelerating SMEs' digital transformation.

The COVID-19 epidemic enhanced the speed of digital transformation, which was already happening in many SMEs. Due to the COVID-19 epidemic, businesses in these areas have developed a number of innovations that have created new prospects for SMEs, banks, and fintech companies alike. We think the North East now contains enormous potential for strong start-ups since the youth in the area are starting to take more chances. Based on their current activities in the area, organizations like the UNDP and India Exim Bank, along with Pay10, are in a good position to support MSMEs in their future endeavors. With the help of Pay10, they can create a business continuity and recovery plan in a case similar disruptions occur in the future.

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