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Andhra Pradesh signs MoUs with VISA, Thomson Reuters for fintech

Mumbai, Feb 22 (IBNS):-- Andhra Pradesh Chief Minister Nara Chandrababu Naidu Wednesday presided over the signing of two significant Memoranda of Understanding (MoU) with fintech multinationals Visa and Thomson Reuters at Mumbai.

 

The milestone represents another firm step by the state government designed to catapult Fintech Valley Vizag as the national and global hub for financial technologies (fintech) innovation.

 

Also hosting the event were Mr. J. A. Chowdary, Special Chief Secretary and IT Advisor to the AP Chief Minister, Ms. Latha Ayyar, Special Representative for Innovation & IT in the Government of AP & COO, Bharti AXA, Mr. Vijayanand, IT Secretary for Government of AP, Mr. J Satyanarayana, UIDAI chairperson and former IT Secretary, Mr. T.R Ramachandran, Group Country Manager, Visa India & South Asia and Mr. Pradeep Lankapalli, Managing Director, Thomson Reuters South Asia.

 

The Government of Andhra Pradesh is also hosting the first Fintech Valley Vizag Spring Conference 2017 on March 9-10, 2017.

 

The conference will bring together fintech companies, start-ups, researchers and key government officials who are working in the fintech sector, and will provide opportunities for disruptive business solutions. With a special focus on nurturing start-ups, the Conference will also announce the winners of the Fintech Startup Challenge who will receive INR 15 lakh prize and free infrastructure for six months in the Fintech Tower.

 

Chief Minister Chandrababu Naidu said, “Our vision is to create 5 lakh jobs in Andhra Pradesh by 2020 through technology-enabled services. Fintech Valley is a playground for start-ups and innovators. Our aim is to turn Fintech Valley into a global hub by enhancing the fintech ecosystem with mutually beneficial cross border collaborations and relationships. This can lead the way in the technological and financial growth of the nation.”

 

“These MoUs are steps towards converting our vision to reality – of making Andhra Pradesh the leader in fintech ecosystem – through Fintech Valley Vizag. Both these companies, Visa and Thomson Reuters, are industry leaders in their space and we are excited to be working with them.” added Mr. J. A. Chowdary, Special Chief Secretary & IT Advisor to the Chief Minister, Government of Andhra Pradesh.

 

Visa is a global payments brand, technology and processing company with more than 2 billion credit, debit and prepaid accounts provided across more than 200 countries and territories. Consistent with the company’s global commitment to help build more inclusive societies, the company has offered its support to the Andhra Pradesh government.

 

As per the MoU between Visa and Government of Andhra Pradesh, the parties intend to collaborate to develop a robust digital payment ecosystem in Vizag through a multi-level approach that targets several stakeholders. Through the promotion of awareness campaigns and educational programmes, the MoU sets out to encourage both merchants and consumers to accept and adopt digital payments.

 

 

 

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