As India battles the coronavirus, all manner of companies have been trying to do their bits to help out. Payments companies are now entering the the fray, and they’ve made some impressive commitments in helping India take on the coronavirus.
PhonePe and Paytm have both said that they’ll donate Rs. 10 for each donation that’s made from their platforms towards the PM Cares Fund. “People from all walks of life expressed their desire to donate to India’s war against COVID-19. Respecting that spirit, the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund has been constituted. This will go a long way in creating a healthier India,” PM Modi had tweeted yesterday. He then went on to say that the fund accepted donations through UPI, among a host of other systems.
The PM-CARES Fund accepts micro-donations too. It will strengthen disaster management capacities and encourage research on protecting citizens.
Let us leave no stone unturned to make India healthier and more prosperous for our future generations. pic.twitter.com/BVm7q19R52
— Narendra Modi (@narendramodi) March 28, 2020
Just around half an hour later, PhonePe came up with a tweet. “Come of India, join PhonePe’s 100 Crore Pledge,” PhonePe CEO Sameer Nigam tweeted. “We will add Rs. 10 to everyone’s donation to the PM Cares Fund,” he added. PhonePe said it aimed to get 10 crore Indians to donate, which would mean it would itself put in Rs. 100 crore into the fund.
Come on India! Join @PhonePe_
#100CrorePledge! We will add Rs.10 to everyone's donation to the PM CARES FUND! Donate via @UPI_NPCI
now and lets get 10 crore Indians to donate to this amazing cause! We will pledge Rs.100 crores on top!!! #100CrorePledge #DonateKaroNaIndia https://t.co/k3Zblwfkos pic.twitter.com/taYp05zJmZ
— Sameer.Nigam (@_sameernigam) March 28, 2020
In slightly more than an hour after going live, PhonePe said that it had crossed over Rs. 1 crore in donations. By 8:30 pm, PhonePe said it had crossed Rs. 3 crore in donations. Over 1,15,000 Indians have donated to the #PMCARES Fund in < 2 hours!!! Rs 3,00,00,000/- in value crossed!” Sameer Nigam tweeted.
Nearly an hour after that, Paytm got into the game. “For every contribution, or any other payment done by you on Paytm, we will contribute an extra up to ₹10,” Paytm said. Paytm said it hoped to collect Rs. 500 crore in donations through its platform.
Paytm is aiming to contribute ₹500 Crore to the PM CARES Fund.
For every contribution, or any other payment done by you on Paytm, we will contribute an extra up to ₹10.
— Paytm (@Paytm) March 28, 2020
Paytm CEO Vijay Shekhar Sharma later said that Paytm had managed to collect Rs. 6 crore in 6 hours from 4 lakh Paytm users.
Wow India ! Absolutely amazing response for contributions to #PMCaresFund . We have got ₹6crore in just 6 hours from 4 lakh Paytmers. 🙏🏼🙏🏼🙏🏼
— Stay Home, Stay Safe (@vijayshekhar) March 28, 2020
India’s digital payments revolution has not made all manner of offline and online payments a lot more seamless, but it’s also made it a lot easier to donate to causes. People can now contribute with a few taps on their phones, and this would likely help the PM Cares fund rack up sizable contributions. Coronavirus is likely going to cause catastrophic changes to India’s economy and people, with top payments companies also pitching in each time users contribute, there’s no better time for citizens to do their bits to help the country tackle the global epidemic.