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Paytm Names Ramana Kumar as CEO for Middle East Expansion

The fintech giant establishes a UAE subsidiary to drive growth in the region, leveraging India-tested payment technologies.

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Overview

  • One97 Communications Ltd has appointed Ramana Kumar as CEO of its newly established UAE subsidiary under Paytm Cloud Technologies Ltd.
  • Kumar brings over two decades of experience in Gulf banking and fintech, including roles at Abu Dhabi Bank and as founding CEO of Magnati.
  • Paytm is focusing on the Middle East's growing demand for digital payment solutions, tailoring its India-tested technologies like QR codes and Soundbox devices to the region.
  • This move aligns with Paytm's strategy to diversify internationally, responding to increased regulatory scrutiny and competition in its home market of India.
  • The company is finalizing plans for product rollouts and partnerships in the UAE and broader Middle East, though specific details remain undisclosed.