Paytm eyes GIFT-IFSC to set up global payment platform

Paytm is considering setting up a global payment development centre at the GIFT-IFSC fintech hub in Gandhinagar. They plan to invest over Rs 100 crore for this centre and will make a formal announcement during the Vibrant Gujarat Global Summit (VGGS) in January 2024. Paytm also intends to participate in the accelerator programme that GIFT City will launch soon. Around 15% of Paytm’s business comes from Gujarat, and they are keen on focusing on the B2B segment and trade in the state.