Paytm to expand to Saudi Arabia, UAE and Singapore; appoints former bureaucrat Bimal Julka to board

One 97 Communications, which operates the digital payments platform Paytm, is expanding its operations to the United Arab Emirates, Saudi Arabia, and Singapore. The company plans to invest up to ₹20 crore in each of these markets to deploy its merchant payment and financial services products, according to a regulatory filing made on Monday.

Paytm will consider both organic expansion and strategic partnerships, as well as acquiring local licenses in these countries. Paytm is among several Indian fintech startups looking to grow their businesses in the Middle East and Southeast Asia. While companies like M2P Fintech provide banking services in these regions, CCAvenue and Pine Labs have already begun their payment operations.​

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