Paytm might just go global, and soon
Advertisement
Advertisement
Paytm and its investor Alibaba back in January entered into an official agreement that would allow Paytm to expand to global markets like the US, China, Japan and the UK. In turn, Alibaba’s Alipay would have access to Paytm’s payments services industry. With Paytm partnering up with Wipro for its upcoming payments business, that dream is just one step closer.According to this agreement the payment platforms of both firms will integrate. That will allow Chinese consumers to shop on Paytm, and pay via
While India’s online retail scene might have seen a slowdown in recent times, that hasn’t stopped major players like Snapdeal and Flipkart from launching their own wallet services to grab a piece of the booming payments market. However, only Paytm’s founder-CEO has the payments bank license issued in August this year.
Back in Jan, The Mint reported Paytm’s parent firm One97 Communications entered into a partnership with
Once Paytm’s own payments bank is up and going by the second quarter, Indians can use Paytm effortlessly to pay for purchases from overseas vendors.
Advertisement
The data centers for these technology solutions will be in India. Wipro is supposed to put in place and manage the data centers for the Payment Bank in order to ensure smooth functioning of the new unit. Paytm currently has two data centers in Mumbai, and one in Delhi.
Image Source
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- India's forex reserves sufficient to cover 11 months of projected imports
- ITC plans to open more hotels overseas: CMD Sanjiv Puri
- 2024 LS polls pegged as costliest ever, expenditure may touch ₹1.35 lakh crore: Expert
- 10 Best things to do in India for tourists
- 19,000 school job losers likely to be eligible recruits: Bengal SSC