Paytm is expanding into Saudi Arabia, UAE, and Singapore, enhancing its lending operations with increased default guarantees and appointing former bureaucrat Bimal Julka to its board. This move aligns with trends among Indian fintech startups seeking to grow in international markets.
Paytm is set to broaden its reach by expanding into Saudi Arabia, the UAE, and Singapore, following the trend among Indian fintech startups targeting the Middle Eastern and Southeast Asian markets. Various companies, including M2P Fintech, CCAvenue, and Pine Labs, have already established a foothold in these regions, providing banking and payment solutions.
The expansion of Paytm into international markets aligns with the broader trend among Indian fintech companies looking to leverage opportunities in regions with growing digital payment ecosystems. To strengthen its lending capabilities, Paytm has increased its default loss guarantees for its partnership with SMFG India Credit Company, raising the amount from Rs 225 crore to Rs 350 crore.
In summary, Paytm’s international expansion into key markets, along with the strategic appointment of former bureaucrat Bimal Julka to its board, reflects its commitment to enhancing its presence in the fintech space. The company aims to boost its lending operations while navigating the competitive landscape of digital finance.
Original Source: economictimes.indiatimes.com
