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Paytm hired 20 senior executives in the past four months, plans to hire 30 more, Retail News, ET Retail

Paytm hired 20 senior executives in the past four months, plans to hire 30 moreNEW DELHI: Paytm has hired 20 senior executives at vice president and above levels in the past four months and plans to hire 30 more to fuel its expansion.

The Noida-based e-commerce payment and financial technology company, which has more than 100 employees in its leadership team, has hired 700 people across levels since the government lifted the lockdown it had imposed to curb the spread of Covid-19.

“Most of our group companies, including Paytm Money, Paytm First Games, lending and insurance businesses, are expanding operations and adding new verticals on their platforms. This is creating the need to bring in more senior hires to lead different processes,” Rohit Thakur, chief human resources officer, Paytm told ET.

The company recently hired Urvashi Sahai as senior vice president (legal). Prior to this, she worked as general counsel for Walmart India. “She comes with the rich experience of setting up legally compliant processes such as an e-commerce platform, Kirana development programme, dark stores at the pan-India level,” said Thakur.

“Early on we decided that we would not let the pandemic be a roadblock in our hiring and continued with the process by making some changes in the way we onboard new colleagues,” he said.

In the past few months, the number of offline and online Paytm transactions combined has grown 35% while the gross transaction value or GTV has grown 50%, the company said without sharing absolute figures.

During the pandemic, Paytm worked to revamp the Paytm app UI with a ‘Stay at home essential payments’ section to include services such as mobile phone and DTH recharge, and electricity, water, gas, credit card and insurance premium payment.

“This led to over 50% increase in mobile recharges, 60% increase in DTH payments and over 200% increase in broadband bill payments,” said Thakur.

Since the imposition of lockdown from March 25, Payment transactions through Paytm Payments gateway have increased, especially for gaming, over-the-top and essential services. The company has also launched new products and services such as Paytm Postpaid, Scan to Order, contactless ticketing service, Covid insurance, Recharge Sathi, Credit Shell for flight tickets and free cancellation of bus tickets.

Senior executives hired in recent months include Bhavesh Gupta, CEO of the company’s lending arm; Varun Sridhar, CEO of Paytm Money; Vineet Arora, CEO of Paytm General Insurance Limited; and Manmeet Dhody, chief technology officer.

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