Thursday, October 5, 2017
The Andhra Pradesh State government today entered into an MoU with Mastercard to pave way for digital financial transactions in a secure environment.
The MoU would help the government in adopting and hastening innovations such as digital payments and launch financial inclusion programmes. IT Adviser J.A.Chowdary and Mastercard CEO Ajay Singh Banga signed the MoU in presence of the Chief Minister Chandrababu Naidu.
Speaking to media, Chandrababu said digital transactions would help check problems such as corruption. The payments would also help bring down he cost of handling physical currency as there was no cost for digital currency. He said that the Mastercard must create a robust cyber ecosystem wherein people can transact online securely. It must take steps to protect the identity, privacy and finances online and businessmen could conduct their operations without any disruption.
Under the MoU, cybersecurity would be implemented across the digital payments and IoT in coordination with the State government and other key stakeholders.