Paytm appoints gulf fintech veteran to run Middle East biz

Paytm parent One97 Communications Ltd has appointed Ramana Kumar as Chief Executive Officer for its Middle East operations, as the company eyes international growth amid mounting competition at home.

Kumar, a veteran of the Gulf banking and fintech sector, is tasked with leading Paytm’s expansion across the United Arab Emirates and the broader Middle East, bringing over two decades of experience to the role. He previously served as the founding CEO of Magnati, a payments subsidiary of First Abu Dhabi Bank (FAB), and held senior roles at FAB and National Bank of Abu Dhabi.

“I am excited to join Paytm and lead its Middle East business,” Kumar said in a statement. “The region is rapidly adopting digital payments, and there’s a strong demand for innovative, secure, and scalable solutions. Paytm’s technology, built and refined in India, is well-suited to meet these needs.”

Paytm is betting on its India-tested technology stack—including mobile payments, QR codes, and Soundbox devices—to gain a foothold in new geographies. The move comes as the company seeks to diversify revenue and scale its merchant payments and financial services distribution model beyond India.

“We welcome Ramana, who has built a formidable merchant payments business in the UAE,” said Vijay Shekhar Sharma, Founder and CEO of Paytm. “We aim to serve the region by building and bringing strong regional leadership, backed by our proven technology.”

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The firm described the new appointment as a “key step” in its international roadmap. While Paytm has yet to disclose specifics about product rollouts or regional partnerships, it said it is “exploring select global opportunities as part of its long-term growth strategy, with meaningful results expected over the next few years.”

Paytm, once seen as the poster child of India’s fintech boom, has faced increased scrutiny from regulators and investors in recent quarters, particularly after a turbulent IPO and tighter rules on digital lending and regulatory scrutiny over payment banks. The company is now looking outward to sustain growth and leverage its platform capabilities in markets undergoing similar digital transformation.