Friday, August 7, 2020

Bhavesh Gupta ropes in as Paytm CEO to steer its lending business – Paytm Latest News

 

According to Paytm Latest News, Paytm has appointed Bhavesh Gupta as Chief Executive Officer and senior vp to steer the company’s lending business. Gupta would be chargeable for developing and expanding the Noida-based company’s lending services together with innovating new credit products in partnerships with other banks and NBFCs.

Before joining Paytm, Gupta was the founding member and CEO at Clix Capital, formerly GE Capital India, for the last three years and a half years. He has over 22 years of experience within the financial sector and has also worked with IDFC Bank and ICICI Bank for over 10 years, as per Paytm Latest News.

Announcing the appointment, Amit Nayyar, president of Paytm, said, “We are very excited to welcome Bhavesh, whose experience would help us accelerate our goals. I anticipate to working closely with him to expand our lending business further together with our esteemed banks and NBFC partners.”


One97 Communications group has marked its third most top-level hiring within the past period of time. While the corporate had recently hired Varun Sridhar as CEO of Paytm Money, it elevated Amit Kapoor to vice chairman and CFO at its wealth management unit. Last month, Paytm had hired Harsh Gupta to steer its merchant payments and appointed Anubhav Sharma because the vice chairman of Paytm Payments Bank. Paytm News had exclusively reported these appointments.

In the lending business, Paytm, in partnership with Bank and NBFCs, has launched Paytm First mastercard, Paytm Postpaid, Personal Loans and Merchant Cash Loans. it's partnered with Clix Capital to supply loans as a payment option for consumers and to merchants as credit lines, as mentioned by Paytm Latest news


Paytm News, however, reported that Paytm also extended its consumer lending product Paytm Postpaid to offline retail and Kirana stores and increased credit limit for ‘PostPaid’ products up to Rs 1,00,000 monthly from Rs 60,000 earlier to enable payment for giant items like furniture and consumer electronics.

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