Indian electronic payment company Paytm has now appointed its senior vice president Krishna Hegde as head of lending, as the firm plans to offer products to its customers and merchants in partnership with lenders.
Nitin Mishra in Charge of Paytm Gold Product
Senior vice-president Nitin Mishra is now in charge of Paytm Gold product. Along with this, he is also overseeing Paytm hotel and packages products, which he took over earlier this year.
Partnering with Banks and NBFC
Paytm is now partnering with banks and NBFCs to offer financial products, according to industry sources. For Paytm payments bank, financial services and products are the core source of revenue, which was launched earlier this year.
Paytm is partnering with ZestMoney and LoanTap and is further looking to add credit products to its wallet. For instance, it is testing products to offer EMIs to Paytm customers on bus tickets and electricity bills.
Offering Wealth Management Products
Earlier this year Paytm had set up Paytm Financial Services to offer financial products. Paytm payments bank will offer wealth management products to customers to earn higher returns on their deposits as it was not competing on interest rates, said Paytm Payments Bank CEO Renu Satti.