Paytm has announced the establishment of two new wholly owned subsidiaries in Indonesia and Luxembourg, alongside a significant investment into its UAE payments arm, marking a strategic step in its international expansion.
The new overseas units, set up under Paytm Cloud Technologies Ltd (PCTL), will focus on exporting Paytm’s payments and financial services technology to global markets, with the company planning to invest up to Rs 25 crore in each subsidiary.
In a related development, Paytm revealed a change in ownership at its UAE-based payments company, Paytm Arab Payments LLC. Abbar Global Opportunities Holdings Ltd, an investment vehicle linked to UAE billionaire Mohamed Alabbar, will acquire a 49 per cent stake in the unit, with Paytm retaining a 51 per cent controlling interest. The transaction involves the issuance of 76,862 new shares at a face value of AED 100 per share, bringing in an investment of approximately AED 7.69 million (around Rs 18.7 crore).
These moves are part of Paytm’s broader international strategy, aimed at leveraging its technology-led merchant payments and financial services model. The company has already begun testing cross-border use cases, including UPI access for NRIs in 12 countries and the launch of UPI International in select markets in late 2024.
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