Paytm had earlier said the Chinese e-commerce giant Alipay is training the former's top executives ahead of its much-awaited payments bank launch in India
Paytm has also claimed that the firm, Unicommerce, was using its logo for promotional purposes
Last October, Chandigarh-based Jugnoo had received funding of $10 million from the Vijay Shekhar Sharma-led company
In yet another major hiring for its proposed payments bank, India's largest mobile payments and commerce platform Paytm has brought in Vipin Surelia into its leadership team as vice-president (risk and compliance).Surelia was earlier with National Payments Council of India as head (product development) and the Reserve Bank of India (RBI) as its deputy general manager. He is the second person with RBI background to be hired for the payments bank core management team.The company said Surelia was involved with the payments sector for 19 years having closely worked with Unique Identification Authority of India, RBI, banks and fintech partners on several occasions."He was in charge of rolling out various NPCI initiatives such as CTS (cheque truncation system), NACH (national automated clearing house), mobile payments, Aadhaar-based systems and unified payments interface. He has also been associated with IBM India and The Hong Kong & Shanghai Banking Corporation in leadership roles," the
The company has tie-ups with around 25 power distribution companies and by the end of the next quarter, would add around 25 more
Bhushan's core responsibilities comprise building company's cross border commerce
Company also aims to increase its shipments four-fold to 2 lakh per day
Most of these increments, based on performance, will come in the low- and mid-level brackets
Paytm had been in talks with Shinjini Kumar for the last few months and an announcement of her appointment is expected in the first week of March
By eliminating this cost, an immense opportunity is created to digitize the 95% of India which still deals in cash
The payment platform has introduced two new features - Slide To Pay & Request Money from Anybody - in the app