Paytm today announced the appointment of Kiran Vasireddy as the new Chief Operating Officer (COO) for its payments business. Vasireddy will be overseeing all product and business functions for the payments division in line with its growth plan for bringing 500 million Indians into the mainstream economy.
Commenting on the development, Vijay Shekhar Sharma, Founder & CEO – Paytm said, “Kiran and his team have built our payment business and led it to top of the charts in India. Under his leadership, Paytm will reach new heights and create many global benchmarks.”
Vasireddy, who has been associated with the company over a decade, held several key business roles. He played a key role in leading the firm’s payment solution across categories such as utility payments, transportation, education fees and metro recharges, among others.
In addition, Kiran has spearheaded the company’s offline payment and its QR code solution across large organized retailers, parking lots, hospitals, tolls, petrol pumps, corporate food courts and neighborhood offline stores. In a short span of time, Paytm has enabled millions of small merchants to accept payments at their stores with Paytm’s QR code solution.
Kiran Vasireddy, Paytm’s new Chief Operating Officer said, “At Paytm, we are absolutely committed to make digital payments extremely simple and accessible. This will help us in our vision to bring financial inclusion to half a billion people in our country. This year, we are aiming for ten million merchants on our platform, which puts us on the right path to build one of the largest payment networks in the world.”
Paytm was the first company to invest in proprietary QR Code-based payments. Today this category is powering digital payments for over five million offline merchants and aiming to reach 10 million merchants by year-end.
Its unique scan-to-pay solution has become ubiquitous with digital payments in the country. This zero cost payment solution combined with Paytm‘s large customer base and breadth of use cases has enabled it to build the largest and fastest-growing payment network in the country.