Paytm to launch its operation in US by Jan 2018

Paytm to launch its operation in US by Jan 2018

Paytm, the largest payments platform in the country, is all set launch its operation in the United States in the coming January to further expand its global expansion game plan.

In an interaction with DH, Paytm founder Vijay Shekhar Sharma said the company is looking at global market as Paytm would like to be known as a global technology company from India. "We have already applied for license in the US and will start the pilot soon. We are expecting to launch it in January," said Sharma.Sharma said as a company one of the logical market of Paytm will be building the product for neighboring countries in South East Asia and more other Asian countries. "But what my personal ambition will be if we built something in India, we should make it a successful product in the developed countries also," he said.

He pointed out that India has already been a customer of products and technologies built by Americans and European. "How about building something that is build in India and goes there and customers and countrymen of those who are using us," he said.

According to Forrester Research, the US mobile payment market was worth around $112 billion last year.

Paytm founder said India is known as building back-end technologies for these country. "We want to be known as company build technologies for American, Europeans, and Japan. Why I am quoting them especially them because if you go and establish there you can be really big guys in the market," he said.  

Paytm, which currently has more than 250 Mn users in India, launched its messaging feature 'Paytm Inbox last week to compete with WhatsApp.  Paytm also announced payments using BHIM UPI on its platform. Users can create their own Paytm BHIM UPI

One97 Communications, the parent organisation of Paytm, started its Canada operation by opening research and development division Paytm Labs in Toronto in 2014.

Paytm started its Canada business in 2017 March by providing utility payment services like cell phone, cable, internet, electricity and water bills through the app. The app will also support payments towards insurance and property tax.

The company has around 70 member team in Canada, which include software, data science and machine learning engineers.

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