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PayTM marks first global foray, launches services in Canada

India TV Business Desk Toronto 17 Mar 2017, 12:07:09 IST
India TV Business Desk

Marking its first foray into overseas markets, digital payments and wallet services company PayTM on Thursday launched its mobile payments services in Canada.

The payment gateway launched across Canada will allow users to pay their mobile, cable, internet, water and electricity bills, besides facilitating payment of insurance and property taxes through the platform.

Also Read: Jack Ma’s Alibaba takes 62 pc stake in Paytm with Rs 1,200 cr funding

“We are excited to announce that starting today, consumers in Canada will be able to access the seamless Paytm experience that is already well-known in India for its convenience. We are confident that Canada will be a very successful market for us,” said Harinder Takhar, CEO of Paytm Labs.

The company already had a team of data scientists operating out of Paytm Labs in Toronto since 2014. The service was launched by the Mayor of Toronto, John Tory.

The company’s international foray comes close on the heels of some big-ticket investments from Chinese e-commerce giant Alibaba and its subsidiary Ant Financial into its e-commerce business.

The Noida-based company, which has close to 200 million wallet users and plans to enroll 1 crore offline merchants by December 2017, had created a new entity for its e-commerce venture which will now pit Alibaba in direct competition with the likes of Amazon and Flipkart for a share in the Indian e-commerce market, the fastest growing in the world.