Wednesday, September 18, 2019
News

Paytm promotes CFO Madhur Deora as President

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | Monday, 2019 4:45:05 PM IST
Gearing up for the next phase of growth in consumer Internet and financial services, digital payments player Paytm on Monday announced the promotion of its Chief Financial Officer Madhur Deora as the company's President.

Prior to joining Paytm in October 2016, Deora served as Managing Director in Citigroup's investment banking business.

"We have grown over 20x in the last three years by creating a payments-led lifestyle and financial services app in our country," Vijay Shekhar Sharma, Founder and CEO, Paytm, said in a statement.

"As we expand our business, we are promoting Deora to the role of President who has been a key partner in this success," Sharma added.

Paytm recently announced that within a year of the launch of its "Loan EMI, Credit Card Bill, and Insurance premium" payment use-case, it has captured 70 per cent market share among all mobile payment apps for BFSI payments.

The company has been rapidly onboarding partners from the insurance and banking sector to become a single platform for such payments.

It has tied-up with more than 30 major insurance companies and more than 45 finance companies.

"I am excited about our next phase of growth in consumer Internet and financial services," said Deora.

Paytm is the single largest platform for banks, financial services, and insurance (BFSI) payments.

It registered over 50 million transactions within a year of its launch. This has encouraged millions of users to make digital payments instead of submitting cheques or visiting the bank branch.

--IANS na/ksk

( 259 Words)

2019-08-19-10:58:06 (IANS)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE SCIENCE NEWS
UP's Rajni won't come down to earth unle...
Huawei's Kirin 990 chip to be available ...
Climate change affecting shark pups deve...
India's domain hosting provider Net4.com...
DRDO to extend tech for India's first ma...
Apple invests additional $250mn in Corni...
More...
 
INDIA WORLD ASIA
Mumbai minor student kills woman tutor...
India expects 'physical jurisdiction' ov...
Bengaluru: VV Puram food street to shun ...
Court rules Kumar's anticipatory bail pl...
Sanyal pitches for more rate cuts from R...
Haryana: 5 migrant labourers found dead ...
More...    
 
 Top Stories
74th session of UN General Assembly... 
Sydney Thunder signs Chris Morris f... 
Centre lifts ban on purchase of new... 
Praneel Dewan with his initiative o... 
When Hiddleston asked Chris Hemswor... 
Tiger stars with Hrithik in 'War'; ... 
Gujarat: Police launches probe afte... 
UP's Rajni won't come down to earth...