One97 Communications Ltd, which runs Mobile payments and commerce company Paytm has appointed ex-head of Alibaba Group Holding’s wholesale business, Bhushan Patil as the company’s new President. Patil will focus on international expansion for Paytm.
Before joining Paytm, Patil served 5.5 years at the Chinese company, where he was handling operations of Alibaba.com. At Alibaba, Bhushan was instrumental in developing Alibaba.com’s B2B business plans for India. An alumnus of IIT Bombay, he has also worked at Zapak Digital Entertainment, Yahoo and Talisma Corp.
Vijay Shekhar Sharma, CEO and founder of Paytm, said Patil will help the company as it strives to expand its operations outside India.
He also added
We want to offer Indian merchants a compelling commerce platform and Bhushan brings incredible experience of building cross border commerce. It will help Indian merchants to sell globally too. As Paytm continues to grow at an exponential pace, it is important for Paytm to expand its operations outside India for further development.”
Last month, Paytm and Alibaba entered into a commercial agreement to allow Paytm to deploy Alipay’s technology via AliCloud. The agreement would allow both firms to integrate their existing platforms to work with each other. Paytm would invest about Rs 120 crore for deployment, which will essentially allow Alipay’s global customers from China, Japan, US and the UK buy from Paytm’s merchants and Indian Paytm users to buy from merchants listed on Alipay on a commission basis.
At the same time, Paytm partnered with PVR, INOX and other unnamed cinema houses to sell movie tickets on its platform. The new initiative would also let users pay for food and other value-added services through their Paytm wallet.