Paytm chief eyes developed market move

Posted On Jun 4 2021 by

first_img Related AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 26 FEB 2020 Paytm Ant Group denies mulling Paytm stake sale Paytm owner targets operators with phishing lawsuit Chris Donkin Paytm ups credit limits, retail options Home Paytm chief eyes developed market move Previous ArticlePhone maker Lava secures funds for low-cost pushNext ArticleCellnex, Bouygues forge €1B 5G network deal Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved… Read more Author The founder of India-based Paytm, Vijay Shekhar Sharma, voiced an ambition to export its technology to Europe and the Americas in the wake of continued success of a JV in Japan, Fortune reported.In an interview with the magazine, Sharma highlighted growth in Japan JV PayPay, adding the use of its technology there proved its suitability in a “complex” market, which paved the way for its use in other countries.Last week PayPay, which was formed by a partnership between Paytm; SoftBank; and Yahoo Japan, announced user numbers for its mobile wallet had reached 25 million by the end of December 2019, up from 15 million in early October.Sharma noted he would prefer the new international ventures to be in developed markets rather than developing, with the eventual mark of success being when it “lands in the USA”.Moves into new countries would likely be in collaboration with major backers SoftBank or Alipay parent Ant Financial, both of which have a record of expansion and investment to increase their influence in global mobile financial services.Paytm closed a $1 billion funding round in November 2019, with the cash set to be used to increase the scale and scope of its operation, including helping fund new services in its home market. Subscribe to our daily newsletter Back Tags last_img

Last Updated on: June 4th, 2021 at 6:51 am, by

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