Nakul Jain, Managing Director and Chief Executive Officer of Paytm Payments Services Ltd (PPSL), has stepped down from his role, as revealed in a stock exchange filing by One97 Communications Ltd, the parent company of Paytm.

Nakul’s decision to resign stems from his aspiration to pursue an entrepreneurial venture. PPSL is actively searching for a qualified successor and will announce the appointment in due course.

Paytm Payments Services Ltd manages crucial operations such as payment gateway and payment aggregator services, among other financial divisions.

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Nakul Jain joined PPSL as MD and CEO in 2022. Before this, he held senior leadership roles, including Managing Director of private banking, priority banking, deposits, and branch banking at Standard Chartered Bank. With over two decades of experience in payments and retail banking, he has also held various positions at ICICI Bank for nearly 16 years and served as Executive Vice President at IndusInd Bank between 2015 and 2017.

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