Paytm, India’s leading digital payments platform, has announced plans to expand its operations to Saudi Arabia, the UAE, and Singapore as part of its global growth strategy. The company aims to bring its digital payments and financial services expertise to these regions, tapping into their growing demand for fintech solutions.
According to a regulatory filing on Monday, the company intends to invest up to ₹20 crore in each of these markets to roll out its merchant payments and financial services products. It plans to explore organic growth, strategic partnerships, and investments and obtain local licenses in these countries.
“We believe our technology-led merchant payments and financial services distribution model has strong potential in similar international markets,” the company stated in a regulatory filing. Paytm is exploring multiple approaches for its overseas push, including organic expansion, local licensing, strategic investments, and partnerships.
In addition, Paytm has appointed former bureaucrat Bimal Julka to its board of directors. Julka, who previously served as the Chief Information Commissioner of India, is expected to bring valuable governance and administrative insights to the company as it continues expanding and innovating in financial technology.
Paytm’s planned expansion into Saudi Arabia, the UAE, and Singapore, coupled with its investment strategy and focus on securing local partnerships and licenses, underscores its commitment to becoming a global leader in digital payments and financial services. With a robust approach to scaling its operations, the company aims to impact these high-potential markets significantly.
