Paytm is going global, launches services in Canada

After having a bumper season of sorts, India’s largest payment service provider Paytm is now aiming for a global footprint. The company on Thursday announced that it has launched its services in Canada for bill payments.

Canadians will now be able to pay for their cell phone, cable, internet, electricity and water bills via a Paytm Canada app. More features would be added gradually. Users can also pay for their insurance and property taxes using the app. It is available on both Android and iOS in Canada, the company said.

"Canada has all the right ingredients — a mature, smartphone-ready population, an environment that greatly promotes innovation in the Fintech space and we felt that the bill payments experience can be greatly improved," a Paytm spokesperson told Livemint.

The company had set up a base in Canada in 2014, which it uses for research and development work. Paytm has expanded its operations significantly in Canada over these two years, from a two-person operation to an over 50 staff of data scientists and engineers building technologies for a fast growing mobile payments and commerce ecosystem.

“With the Canadian app launch, we look forward to Paytm’s success and being an integral part of its growth story globally,” said John Tory, mayor of Toronto in a statement.

The company plans to add more services and features to the app going forward, Paytm said in a blog post on its website.