Paytm unveils fully indigenous technology-powered upgraded payments platform

Paytm unveils fully indigenous technology-powered upgraded payments platform

Tech News

Paytm, the payments and financial services platform owned by One97 Communications, has announced the release of its new technology platform developed entirely in-house. The upgraded platform is expected to enhance Paytm’s already fast, secure, and seamless payment services, according to the company.

In an effort to promote the sustainable growth of digital payments and financial services in India, Paytm has launched a new payments infrastructure. The fintech company’s upgraded platform is designed to facilitate fast, secure, and seamless payments, and is capable of handling up to 10 times the current scale, according to a company statement. Paytm aims to set a gold standard for fintechs to tackle the rapidly growing digital payments landscape in India.

The company claims that Paytm has been a game-changer in the mobile, QR, and soundbox payments space, and its new platform is set to revolutionize digital transactions, making financial services more accessible and affordable. The fintech company’s innovative Soundbox has been a shining example of the ‘Make in India’ initiative, which aims to boost domestic manufacturing and entrepreneurship.

Paytm, which has already showcased its technological capabilities by developing the digital payments infrastructure for Japan, has achieved another milestone with the launch of its fully indigenous new technology platform. Paytm’s Founder and CEO, Vijay Shekhar Sharma, highlighted the company’s journey from pioneering innovative solutions to creating technology for India’s small and large merchants. By developing every aspect of the new platform in-house, Paytm has demonstrated that India has the potential to build scalable, world-class software technology.

“We have built a new operational risk system and fraud management from the ground up, catering to India’s payments growth. This platform will be able to scale to the next up to 10X payments in India. We are here to serve India by a technology made in India. We are proud that we are making this in India for the world,” Sharma added. 

(With inputs from ANI)


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