PhonePe Launches Digital-First Udyam Assist Registration, Partners with SIDBI to Empower Micro-Enterprises..
Varahi media.com online news,Delhi, September 10, 2025: PhonePe announced the launch of its digital-first Udyam Assist Platform (UAP) registration at an event in Delhi, attended by the
Varahi media.com online news,Delhi, September 10, 2025: PhonePe announced the launch of its digital-first Udyam Assist Platform (UAP) registration at an event in Delhi, attended by the Honourable Union Minister for Micro, Small and Medium Enterprises, Jitan Ram Manjhi, and Smt. Y.M. Kumari, Chief General Manager, Small Industries Development Bank of India (SIDBI).
This milestone makes PhonePe the first fintech to offer a fully digital, end-to-end solution for merchants, streamlining the traditional Udyam certificate issuance process used by other platforms.
This initiative provides micro-merchants with a formal business identity, enabling Informal Micro Enterprises (IMEs) to access government schemes, tax benefits, business bank accounts, and the digital payments ecosystem, along with financial services.
During the launch event, Udyam Assist Certificates were issued to merchants through this new digital process, marking a significant step in India’s digital financial inclusion journey. PhonePe also signed a Memorandum of Understanding (MoU) with SIDBI to facilitate credit access for micro-merchants through seamless digital lending solutions integrated with UAP.
Mr. Hemant Gala, CEO of PhonePe Lending, stated, “PhonePe has always led the way in driving digital financial inclusion. Today is a landmark moment for Digital India and millions of small entrepreneurs. We are proud to be among the first to offer complete digital integration with the Udyam Assist Platform.
Our partnership with SIDBI will unlock access to government schemes, credit facilities, and essential benefits for MSMEs, contributing to India’s economic vision. Through PhonePe’s intuitive and efficient digital solution, we’re not just enabling registration—we’re turning the vision of empowering small and micro-businesses into a seamless digital reality.”
Smt. Y.M. Kumari, Chief General Manager, SIDBI, said, “The Udyam Assist Platform has become a key driver in formalizing non-GST registered Informal Micro Enterprises. Over the past two years, it has enabled the issuance of Udyam Assist Certificates to over 2.75 crore small businesses.
Seamless digital integration with designated agencies is another significant step in this formalization journey, accelerating the inclusion of informal micro-businesses into the mainstream economy and enhancing credit access for these entities.”
Developed and implemented by SIDBI under the Ministry of MSME’s Formalization Project, the Udyam Assist Platform (UAP) facilitates the registration of Informal Micro Enterprises by generating Udyam Registration Numbers and Udyam Assist Certificates.
UAP enables online registration of IMEs through Designated Agencies, marking a significant effort by the Ministry to formalize micro-enterprises across India.
About Author
