Airpay and MSCB Partner for Digital Payment Revolution in Maharashtra

Airpay Payment Services has partnered with Maharashtra State Co-operative Bank to enable UPI-based digital payments across the state, aiming to enhance financial inclusion in rural areas. This initiative will digitize 21,000 PACS, 31 DCCBs, and 55 MSCB branches, supporting farmers and merchants in transitioning to digital transactions.

In a major push towards digital financial inclusion, Airpay Payment Services announced its collaboration with Maharashtra State Co-operative Bank (MSCB) to implement UPI-based digital payments across the bank's state-wide network.

This strategic partnership targets rural Maharashtra, integrating over 21,000 Primary Agricultural Credit Societies, 31 District Central Co-operative Banks, and 55 MSCB branches into the digital payments ecosystem. The move is expected to significantly benefit farmers, traders, and small merchants, allowing them access to QR-based UPI payment systems free of additional costs.

The collaboration supports the broader regulatory push by NABARD and RBI to digitize the cooperative banking sector. MSCB Chairman Vidyadhar Anaskar highlighted the initiative's aim to align Maharashtra's cooperative sector with the national digital payments grid, envisioning a substantial increase in digital transaction volumes.

(With inputs from agencies.)