The company will make the investment over a period of time and will seek requisite approvals for the same. With GIFT city as an ideal innovation hub for cross-border activity, Paytm will use its proven capability to innovate and build new tech for users across the globe looking to invest in India. As the pioneer of real-time payments and settlements in India, the company will replicate its success to now reduce friction in cross-border remittances with faster and cost-effective solutions, driven by Artificial Intelligence.

Leveraging its leadership as a tech innovator, Paytm will also set up a development centre in GIFT City to build the above solutions and provide a technology backbone. This centre will create jobs and house engineers to develop a suite of world-class financial products and services.