Protean equips PayNearby with paperless PAN services

The partnership will help improve service delivery for Indian citizens as they enter the formal financial sector. It will facilitate quick access to online PAN services in neighbourhood stores at affordable rates, thus eliminating the submission of physical applications and supporting documents. Once the online application form is submitted, a digital copy of the ePAN will be generated within a couple of hours, while a physical copy will be delivered to the customers at their chosen address in 4-5 working days.

Protean, which accepts and processes PAN applications on behalf of the Income Tax Department, Government of India, has played a role in laying down the basic e-governance infrastructure for the nation and providing citizen-centric services to the masses. Under the collaboration, PayNearby will work as the PAN Service Agency (PSA) of Protean.

PayNearby’s goal has been to simplify technology for consumption during the last-mile delivery and ensure the democratisation of financial and digital services. With PayNearby serving nearly 75% of the Indian market, retailers can now accept PAN applications in paperless mode, while Protean will be able to further expand the coverage of PAN services across the country, especially to remote locations, through a PayNearby store.

The partnership will bring the underbanked and unbanked segments of the population within the tax fold through trusted local touchpoints, add to the country’s tax kitty, and provide micro-entrepreneurs with an additional source of revenue.