Digital Payments and Financial Services major Paytm on Friday said it is strengthening its leadership in the offline payments business with lending and also doubling down the credit given to merchants. The announcement came after the recent high profile exits of its leadership Abhishek Arun, Chief Operating Officer, Paytm’s Payments Bank and Renu Satti, Chief Operating Officer, Paytm Offline Payments.
Paytm’s success in providing credit to merchants, We are consolidating our leadership of its offline payments business with lending, with an aim to increase the penetration of credit to our 23 million customers, Paytm said in a statement.
With such changes in the leadership, the company is in the process of doubling down its credit schemes to its 23 million merchants. With this consolidation, the company is also planning to grow its leadership in the offline payments business.
The company further added, Bhavesh Gupta, Chief Executive Officer, Paytm will be given an additional role to take on the leadership for the offline payments business in addition to his existing responsibilities.
Bhavesh has led the company’s lending business, which has reached over $1 billion of disbursals through Paytm, said Paytm in an official statement.
