PayTM has started its global expansion. While PayTM started out in Canada in the year 2014 with a two-member team, today that entity is 55-member strong and works on software, data and machine learning for mobile wallet payments.
Becoming one of the few Indian start-ups to make a global entry, online mobile wallet major Paytm said on Thursday that it had launched a bill payments service in Canada.
The payment gateway launched across Canada will allow users to pay for cell phone, cable, internet, water and electricity bills. Users in Canada can also pay insurance and property taxes on the platform.It is similar to Paytm’s app in India, only specific to Canada. The Mayor of Toronto Mr. John Tory launched the app with Vijay Shekhar Sharma, CEO – Paytm, at the company’s office in Noida.
“We are excited to announce that starting today, consumers in Canada will be able to access the seamless Paytm experience that is already well-known in India for its convenience. We are confident that Canada will be a very successful market for us,” said Harinder Takhar, CEO of Paytm Labs.
This is Paytm’s first international market, the company did not say whether it is looking to offer its services to any other countries.
“With the Canadian app launch, we look forward to Paytm’s success and being an integral part to its growth story globally,” said John Tory, mayor of Toronto in a statement.
Since 2014, the company has used big data, artificial intelligence and machine learning on Paytm’s data assets to build products for about two hundred million consumers. Back in May 2016, Paytm said it planned to go global through its association with Alipay, owned by China’s Alibaba Group. Beginning with 16 countries, Paytm’s international reach will grow every time the Chinese mobile payment major expands its international footprint.
Paytm’s parent One97 Communications recently separated its payments and commerce business in two entities as it plans to start its payments bank in India. The commerce business has been hived off to new entity Paytm E-commerce where Chinese e-commerce major Alibaba is investing $177 million. The Noida-based company has close to 200 million wallet users and plans to enroll 1 crore offline merchants by December 2017.