Paytm Eyes Merchant Acquisition in Overseas Markets with Operations in Middle East, SEA

After posting a little decrease in net loss to ₹208.3 crore in the third quarter compared to the same period last year, One97 Communications, the parent company of fintech powerhouse Paytm, is extending its worldwide reach with new subsidiaries in the UAE, Saudi Arabia, and Singapore.

According to Paytm CEO Vijay Shekhar Sharma, the company's main development prospects include merchant acquisition and payment facilitation in new areas.

In the earnings report, founder and CEO Vijay Shekhar Sharma stated, "The goal is to start on the merchant side because it is a very long-term business model and in every economy and geography that I am meeting different senior executives in, either in central bank or government, they love it because SME credit is missing everywhere.

With the launch of UPI International, Paytm made it possible for Indian tourists to conduct Unified Payments Interface (UPI) transactions at a few international destinations.

The company's growing emphasis on global expansion, especially in the Middle East and Southeast Asia, is motivated by the demand for additional solutions and distribution in the merchant ecosystem, according to Madhur Deora, president and group CFO. "We have been able to build great technology at very low cost in India, and we think we can service the merchants in these markets really well."