Indian multinational financial technology company Paytm, which specializes in digital payments and financial services, plans to establish itself in the UAE in line with its ambitious strategy of overseas expansion.

To get started, Paytm has charted out clearcut plans involving investments and partnerships. The new ventures are likely to take off in about six months for which ?20 crore has been set aside for  investing in each of the avenues.

Known for its inventive touch in software, hardware and service solutions, Paytm is keen to tap into global markets in these areas of expertise.

Founded in 2010, the company hopes to adopt the India-based business model for an equally successful run in international markets.

Paytm has also announced that its subsidiary, Paytm Cloud Technologies, will make inroads into the UAE, Saudi Arabia, and Singapore. The company has announced that its “technology-led merchant payments and financial services business model in India has the potential for expansion in similar international markets”. – editor@nrifocus.com