Indian startup Paytm goes global with services launching in Canada

Company - Vinay Mishra - Mar 17,2017

Rating -

stars - based on 21 reviews

indian startup paytm goes global with services launching in canada

Alibaba-backed Paytm, an online digital wallet maker with a current user base of over 200 million has launched mobile payment services in Canada.

Paytm has become one of India’s few startups to make a global presence. The company has launched a bill payments service in Canada on March 16. It is the Paytm’s first venture into an international market.

The users in Canada can now use Paytm Canada app to pay their mobile, cable, electricity, internet and water bills. Furthermore, users can also pay their insurance and property taxes by using the new mobile app. The mobile app is available for download on both Android and iOS platforms. Paytm has also promised to expand its services by adding a full lineup of new features that will make life easier for consumers. The mayor of Toronto Mr. John Tory also attended the launch event at the company’s headquarters in Noida on March 16.

Since 2014, the company had a team of data scientists working at Paytm Labs. In May 2016, Paytm had planned to go global through its association with Alipay, owned by China’s Alibaba Group.

In India, Paytm is known to be the largest e-wallet technology platform. Currently, with a current user base of over 200 million, through its mobile app & website, Paytm offers services like payments/recharges for mobile, electricity, movies, bus, DTH, payments through QR code, etc. Consumers can also shop using the Paytm services and it is expected to launch payment banking services soon.

Its investors include Alibaba Group, Ant Financial (Alipay), SAIF Partners and Mediatek.

Paytm has also invested $5 million in Jugnoo, an auto rickshaw aggregator and delivery company. It has also acquired Delhi-based consumer behavior prediction firm Shifu for $8 million and a startup Near.in for $2 million. The firm has also invested over 200 crores inr to become the lead sponsor of the Indian Cricket team.