Paytm’s revamped platform will ensure that the previous technology platform is upgraded with new era technology solutions that are locally built and internally supported.
Payments and financial services platform Paytm has taken another step towards Atmanirbhar Bharat to promote digital payments with the launch of its next-generation technology platform. One97 Communications Ltd (OCL), the parent company of Paytm, on Friday announced the launch of its enhanced payments platform which is built with 100% locally developed technology.
“We are pleased to announce the launch of our next generation payment platform powered by 100% Made in India technology. compared to today,” Paytm tweeted.
Paytm, founded by Vijay Shekhar Sharma, has been at the forefront of digital payments transformation in India through its technological innovations. Paytm’s revamped platform is expected to bolster its fast, secure and transparent payments.
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The revamped platform will ensure that the previous technology platform is upgraded with new era technology solutions that are built locally and supported internally.
Paytm has set a benchmark for other fintech companies by launching a world-class platform capable of handling up to 10 times the current scale, the company claimed. The move aims to tap into the rapidly growing digital payment opportunities in the country.
Paytm has become a vital cog in India’s mission to build a trillion-dollar digital economy. The massive upgrade of its payment platform through comprehensive native development will go a long way in enabling affordable access to financial services.
CEO Vijay Shekhar Sharma also weighed in on Paytm’s new technology platform. In a statement, he expressed optimism about Paytm’s ability to serve the country with technology made in India.
Vijay Shekhar Sharma said, “By ensuring that every component of our technology is made in-house, we have proven that India can create world-class technology software at scale. We implemented a new operational risk and fraud management system from scratch, responding to the growth of payments in India. »
(Edited by : Sudarsanan Mani)
First post: March 25, 2023 1:16 p.m. STI
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