Fintech Veteran Ramana Kumar to lead Paytm's Middle East Operations

Paytm's parent company, One97 Communications, has appointed Ramana Kumar as the Chief Executive Officer for its Middle East operations, marking a significant step in the company’s international expansion strategy. Kumar brings over two decades of leadership experience in the Gulf region’s banking and fintech sectors, having previously served as the founding CEO of Magnati and held senior roles at top regional banks.

This strategic hire comes as Paytm seeks to diversify its revenue streams and reduce dependence on the highly competitive Indian market. With this move, the company aims to introduce its India-honed digital payment innovations — including mobile payments, QR code solutions, and Soundbox devices — to the rapidly digitizing economies of the Middle East.

Vijay Shekhar Sharma, Founder and CEO of Paytm, welcomed Kumar, noting his successful track record in building merchant payment ecosystems in the UAE. “His leadership and regional expertise will be crucial as we extend our mission of financial empowerment globally,” Sharma said.

At Paytm, Kumar will be responsible for replicating the company’s domestic success by adapting its offerings to suit the region’s unique regulatory, business, and consumer landscapes. “The Middle East is embracing digital transformation at an impressive pace,” Kumar stated. “Paytm’s secure, scalable, and proven technology is well-positioned to meet the region’s growing demand for innovative financial services.”

Although specific product rollouts or partnerships are yet to be announced, the appointment reflects Paytm’s commitment to becoming a global fintech leader through regionally tailored, tech-driven financial solutions.