Indian fintech company, Paytm, is expanding its business to the UAE, Saudi Arabia, and Singapore. This expansion is managed by Paytm Cloud Technologies Limited (PCTL), a subsidiary of One 97 Communications Ltd. The company aims to introduce its merchant payment and financial services in these international markets, where there is a growing need for digital financial solutions.

Paytm will invest up to ₹20 crore in each of the new subsidiaries, which will be wholly owned by PCTL. The company expects to complete the incorporation process within six months. No additional regulatory or government approvals are needed for this expansion. The subsidiaries will operate in payments and financial services, following Paytm’s existing business model.

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Paytm plans to grow its presence in these regions through organic expansion, local licensing, and partnerships. The company has earlier entered markets like Canada and Japan, adjusting its operations based on local requirements.

Paytm believes its technology-based financial services will work well in the UAE, Saudi Arabia, and Singapore, where the use of fintech services is increasing. This expansion is part of its strategy to extend its services to global markets.

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