Paytm to go international with Alibaba
Noida, India | Red Newswire |Jan 27, 2016 Last Updated at 10:30 AM IST.
Paytm, the mobile commerce platform is now partnering with Alibaba. To be specific it has partnered with cloud computing branch of Alibaba called AliCloud. this will allow Paytm to approach international markets. In return for AliCloud’s services, Paytm will give it access to India’s payments services.
As per the deal, Paytm will pay $18 million for using Alipay’s technology. The two firms will be integrating their payment modes in the platform, so Chinese customers buying from Indian merchants and vice-versa will not have any problem.
Indian Paytm users will then be able to buy for US, Chinese, UK and Japanese merchants.
Vijay Shekhar Sharma, founder of Paytm said, “With Aliyun platform we will have access to services such as data analytics and insights into customer trends across markets where Alipay is present and it will help us build stronger merchant database.”
A team of 20 from Aliyun has been working at Paytm’s Noida office to roll out the cloud service.