Paytm's Lending CEO Bhavesh Gupta to lead offline payments

By

Isabelle Crossley

Published
Dec 27, 2021

Digital payments and e-commerce business Paytm has appointed Bhavesh Gupta, CEO of its Paytm Lending business, as head of its offline payments vertical which he will lead alongside his existing responsibilities. 

Paytm plans to go on a hiring drive and will take on 30 senior leaders to head its product, technology, and business sectors across both payments and financial services, the Economic Times reported. Gupta’s appointment as head of offline payments is part of the business’ wider consolidation of the leadership of its offline payments and lending businesses which is designed to increase the penetration of its credit services to its pool of 23 million merchants across India. 
 
“One97 Communications Limited that owns the brand Paytm, India's leading digital ecosystem for consumers and merchants, further strengthens its focus on offline payments and financial services,” said the business in a regulatory filing, ET Bureau reported. 

Before joining Paytm, Gupta had over 22 years of experience in finance and has worked for banks in the lending industry including IDFC Bank and ICICI Bank. Gupta’s appointment follows the voluntary exit of senior company official Renu Satti who decided to take a career break, according to Paytm’s recent filing. 

“After over a decade of association with Paytm, Renu Satti has expressed her desire to take a career break,” said Paytm in its filing. “Paytm is thankful for her years of expertise, dedication and contribution in the growth of Paytm and wishes her the best for her future endeavours.”