BIZ~COM
Ahmedabad:
Paytm, one of the leading fintech platforms in India, is planning to invest approximately Rs 100 crore in Gujarat International Finance Tec-City (GIFT City) for the development of a Global Payment Development Centre. With its presence in GIFT City, Paytm also aims to grab the opportunity to be a participant in the growing fintech ecosystem boom based out of here.
Vijay Shekhar Sharma, founder and CEO, Paytm, said, “We are in talks with the GIFT City authorities regarding our plans here. GIFT City provides opportunities to expand on the global payment systems like SWIFT and Indian fintech innovations going out of the country. We have set aside considerable funds for investment purposes in GIFT. Given the opportunity, Paytm plans to invest Rs 100 crore to develop a Global Payment Development Centre. Probably we will come out with our formal commitments around the Vibrant Gujarat global Summit.” The Vibrant Gujarat Global Summit 2024 is scheduled for January 10 to January 12.
Gujarat has been a major contributor in the overall business of Paytm. The state holds around 15% of the total market share for Paytm and that makes us more confident about our future plans in GIFT City, he said.
