India based payment and commerce ‘Paytm’ recently announced that it is all set to step into Canadian market with the launch of its bill payments service in the North American country. “Users in Canada will now be able to pay for their cell phone, cable, internet, electricity and water bills. In addition to this, users will also be able to pay for their insurance and property taxes by using the new Paytm Canada app,” Paytm said in a statement. The app will be accessible for both Android and iOS users in Canada, it added.
“We are excited to announce that starting today, consumers in Canada will be able to access the seamless Paytm experience that is already well-known in India for its convenience. We are confident that Canada will be a very successful market for us,” Paytm Labs CEO Harinder Takhar said.
John Tory, Toronto Mayor, who was there at Paytm’s headquarters in Noida, said that they are quite happy with this launch as the city has been home to the Paytm Labs team since 2014. Paytm Labs, located in Toronto, Canada, is the research and development division of Paytm.
“Toronto is the city for a company looking to locate in North America with our multisector strength and our exceptional diverse talent pool. With the Canadian app launch, we look forward to Paytm’s success and being an integral part to its growth story globally,” Tory said.
Mounting from a two-person operation to a full-fledged team of data scientists and engineers, over the years since its inception Paytm has expanded its team. Today, Paytm is considered as one of the largest financial technology platforms in India with a current user base of over 200 million, the company offers services like payments/recharges, mobile wallets, e-commerce and will soon launch payment banking services. Its investors include Ant Financial (Alipay), Alibaba Group, SAIF Partners and Mediatek.