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Paytm will run new entity for payment gateway
January 20, 2021
Paytm will run its payment gateway business under a new entity. The fintech giant has incorporated a new entity Paytm Payments Gateway Service Pvt Ltd. for its payments gateway business. The new entity is started with a capital of ₹100 crore.
Until now, Company has been running its payments gateway services One97 Communications. The hive off of the payments gateway business has come when the organization has been ramping up its contributions to make it more business-focused.
A year ago, the firm had launched an ‘all in one payment gateway’ and ‘Paytm business solutions’ for small and medium organizations. Aside from injecting ₹100 crore in the new element, Paytm would likewise implant $14 million in Paytm Money.
The fresh proceeds in the Varun Sridhar-drove firm are coming after two months. Paytm had injected ₹60 crore in the common asset and stockbroking platform in November. It’s significant that One97 Communications had reported a ₹250 crore interest in Paytm Money in the following 12-year and a half in July 2020.
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