Paytm Cloud’s board approved a subscription amount of AED 8 Mn for the acquisition of 80,000 equity shares in the newly-floated subsidiary, Paytm Arab Payments LLC
The new subsidiary will work towards expansion and distribution of Paytm’s technology-led merchant payments and financial services stack in the UAE
This comes three months after Paytm said that Paytm Cloud would set up wholly owned subsidiaries in the UAE, Saudi Arabia and Singapore
Fintech major Paytm’s arm Paytm Cloud Technologies Ltd (PCTL) has…