A few months after Renu Satti stepped down, Paytm Payments Bank appointed Satish Kumar Gupta as its new managing director and CEO.
A few months after Renu Satti stepped down, Paytm Payments Bank appointed Satish Kumar Gupta as its new managing director and CEO. Satish Gupta who comes with 35 years of experience in the banking and payments space earlier served in the leadership roles at SBI and NPCI, the company said in a statement.
“…Gupta comes with over 35 years of experience in the field of Banking & I am extremely delighted to welcome him as Managing Director and Chief Executive Officer of Paytm Payments Bank. His expertise will help us realise the vision that we have set out for our Payments Bank”, PTI reported citing Paytm’s Founder and CEO Vijay Shekhar Sharma.
A few months back, Renu Satti, the then CEO of Paytm Payments Bank, a unit of One97 Communications Ltd, stepped down from her position to head the news retail segment at the company as COO.
Satish Kumar Gupta’s appointment is the third CEO appointment at the Bank in two years after Shinjini Kumar left in May 2017.
Meanwhile, Paytm has launched PayPay, a QR based smartphone payment service in collaboration with SoftBank Corp and Yahoo Japan. Paytm had raised $1.4 billion from SoftBank last year in exchange for a 20 percent stake.
PayPay is a feature-rich smartphone-based settlement service that allows users to store money from a bank account in their PayPay wallet and make payments with it. “Incepted in October 2018, PayPay aims to promote the broader use of cashless payment in Japan and to provide highly convenient services to both consumers and affiliated stores,” Paytm said in a blog.