One97 Communications, which owns the payments and financial services platform Paytm announced the launch of its fully indigenously developed new technology platform.
Paytm has been at the forefront of India’s digital revolution with its technology-led innovations that have empowered users with a ‘Made in India’ payments platform. The fintech firm’s revamped platform is expected to further power its fast, secure and seamless payments.
Paytm’s new payments infrastructure will promote sustainable growth of digital payments and financial services in India.
“With a world-class platform that can handle up to 10X of the current scale, Paytm has set a gold standard for fintechs, aimed at handling fast growing digital payments opportunities in the country,” it said in a release.
After revolutionising mobile, QR and Soundbox payments, the company’s new platform will transform digital transactions, enabling affordable access to financial services.
The digital disruptor made waves in digital payments with its iconic Soundbox, which is yet another shining example of ‘Make in India’.
Paytm’s efforts resonate globally as digital payment innovations like India’s UPI gain international attention, inspiring similar developments worldwide. For instance, in Africa, solutions such as EasyEFT offer users secure and convenient ways to handle digital transactions, enabling efficient payments for various services, including online gaming and casinos. This trend highlights a broader global shift towards digital financial inclusivity, bridging technological gaps between developed and developing economies.
