Paytm, India’s leading payments and financial services company, has announced a significant investment of ₹100 crore in Gujarat International Finance Tec-City (GIFT City). The investment aims to create a global financial ecosystem and establish Paytm as a major player in cross-border remittances and payments.
GIFT City, located in Gandhinagar, is an ideal innovation hub for international business activities. With this investment, Paytm plans to leverage its technological expertise and develop new solutions for users across the globe looking to invest in India. The company aims to reduce friction in cross-border remittances by introducing faster and more cost-effective solutions, driven by Artificial Intelligence.
In addition, Paytm will establish a development center in GIFT City to build these solutions and provide a technology backbone. This center will not only create job opportunities but also house engineers who will develop a suite of world-class financial products and services.
Vijay Shekhar Sharma, the founder and CEO of Paytm, expressed his excitement about GIFT City becoming a global financial hub. He believes that this strategic investment will play a crucial role in building an AI-driven cross-border remittance and payments technology landscape, offering global opportunities. By delivering fast, reliable, and cost-effective remittance solutions on a global scale, Paytm aims to reduce friction in international transactions.
Paytm, as India’s leading mobile payments and financial services distribution company, has been at the forefront of the mobile QR payments revolution in the country. The company is dedicated to creating technologies that assist small businesses with payments and commerce.
This investment in GIFT City marks a significant milestone for Paytm, as it positions itself as a key player in the global financial ecosystem. By tapping into the potential of cross-border remittances and leveraging its technological capabilities, Paytm aims to facilitate seamless and efficient financial transactions for users worldwide.
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