Paytm on Friday said it has elevated Bhavesh Gupta, CEO, Paytm Lending, to take on leadership responsibilities for the offline payments vertical in addition to his existing responsibilities.
The company, which listed on the bourses last month, said it aims to grow its leadership in the offline payments space and propel the growth of credit to merchant partners with this consolidation.
One97 Communications, which owns the Paytm brand, also confirmed that Renu Satti, after a decade of association with Paytm, had moved on after she expressed her desire to take a career break.
This is the only voluntary senior exit in the company in recent times, and the management team is greatly augmented by several recent additions in offline payments and financial services, Paytm said in a statement filed with the stock exchanges.
To hire senior leaders
Paytm also said the company had recently promoted 25 colleagues to Senior Vice-President and Vice-President positions, taking the senior management team count to over 150. The company plans to hire over 30 senior leaders for product, technology and business roles, the statement added.
Paytm spokesperson said, “We are excited about the accelerated growth of credit access to merchants, which has led to the consolidation of our offline payments and credit businesses under Bhavesh’s leadership. We congratulate our colleagues on their promotions as a recognition of their contribution to Paytm’s growth. We also wish Renu all the best as she moves to the next phase of her journey.”
Paytm remains committed to the goal of bringing half a billion Indians to the mainstream economy, and drive inclusion in digital payments and financial services, the statement added.