January 4

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

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, mobile money