HDFC Bank, Paytm connect for digital payments

Fintech major Paytm and the country’s largest private bank HDFC Bank have teamed up to provide financial solutions to digital payment users across India.

Paytm and HDFC Bank will build comprehensive solutions across payment gateways, POS machines and credit products, including Paytm Postpaid, which is a Buy Now Pay Later (BNPL) solution, Eazy EMI and Flexi Pay, the companies said.

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Talking about the partnership, Bhavesh Gupta, CEO, Paytm Lending said, “ This partnership will further strengthen financial services ecosystem by bringing together our technology and digital solutions and HDFC Bank’s retail and credit prowess.”

Parag Rao, Group Head – Payments, Consumer Finance, Digital Banking & IT, HDFC Bank also stated, " Through this partnership we will also be jointly delivering enhanced SmartHub solutions to the market"

The strategic partnership comes ahead of the proposed ₹16,600 crore initial public offering (IPO) of Paytm.

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