Bhartipay Empowering MSMEs in NorthEast India | 📝 LatestLY

The agenda of Bhartipay is to provide all the facilities that are available under MSME to businessmen and women who have managed to start their venture. The MSME today occupies an important role in directing the development process for the growth and prosperity of the north-eastern region. However, the sector has been facing a tough fight. The state governments of the region depend heavily on central assistance and thus efforts to create economic and physical infrastructure by the states themselves are inadequate. Surface transportation and communication infrastructure is weak and hampers the movements of raw materials and finished goods among the states and outside the region.

Bhartipay sees MSMEs as a viable target segment compared to large corporate firms, says Miss Sakshi Chawla, CEO of the former. They see MSMEs enterprises offer adequate returns to the country and financial institutions. They need strong infrastructure and adequate market linkages. These are the key factors that have natural properties for the growth of the sector. With Bhartipay, the presence of such key factors, the full potential of the NE region could be tapped.

When we talk about digital payment in India, we cannot forget that our focus should be North East India. MSME is getting along with the online transactions, thanks to the fintech companies. At present, Bhartipay for the SMEs in the region is playing an important role as well as remain competitive in globalization keeping in view the challenges confronting the MSMEs in the region; Bhartipay has turned its focus towards all businesses which have tremendous growth potential.

Bhartipay is one of the most recognized payment solution providers in India. Bhartipay today occupies an important role in directing the development process for growth and prosperity up to the full potential of the North-eastern region. We are working with policymakers and planners to formulate a comprehensive strategy for the speedy development of the sector and deepen the engagement with the MSME and expand productivity. Despite various welfare schemes being run by the Ministry of MSME, it has been found that there is a lack of awareness of the schemes at the grass-root level and this has prevented the benefits from reaching the small entrepreneur. Our objective is to alleviate poverty and unemployment by supporting all business enterprises. Bhartipay ensures people can benefit more from technology in North East India. By offering innovative and easy-to-use payment accepting solutions Bhartipay had its fair share of role to get businesses involved with online payments. This is a leader in securing e-commerce and proximity payments.

Bhartipay follows the government’s guidelines for online transactions and as a digital payment provider helps its bank clients improve the way they engage with their clients digitally: time management, invoicing and billing, and general CRM. We believe that Digitalization is here to stay, and SMEs are pushing even harder because they see the opportunity in it. Bhartipay has the vision to simplify administrative tasks and accelerate the digital transformation of SMEs for a better user experience and adoption.

While many SMEs were already undergoing a digital transformation, the COVID-19 pandemic accelerated the pace. COVID-19 pandemic has brought out several innovations by the enterprises of these regions unlocking new opportunities for banks, fintech, and SMEs alike. With the youth in the region starting to take more risks, we believe that the North East today holds huge potential to come up with good start-ups. With Bhartipay, they can formulate a business continuity and recovery plan in case of similar disruptions happening in the future, and organizations like the UNDP and India Exim Bank along with Bhartipay are in the right position to assist MSMEs in their future endeavours, based on their existing activities in the region.

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