India’s Largest Mobile Wallet App Paytm Gets Regulatory Nod to Operate Its Own Payments Bank

Wednesday, January 4, 2017

India’s largest mobile wallet service now has its own payments bank.

“Our aim is to build a new business model in banking industry, focussed on bringing financial services to 100s of millions of un-served or underserved Indians,” said founder and CEO of Paytm, Vijay Shekhar Sharma.

“With power of technology and innovation-at-scale, we aim to become a benchmark in world of banking,” he added, stating his intentions of taking full-time executive role in the Bank.

Source: Mashable (link opens in a new window)

financial inclusion, fintech