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Paytm names Kiran Vasireddy as COO of its payments business

LiveMint logoLiveMint 24-07-2017 Yuvraj Malik

New Delhi: Financial technology firm Paytm Monday named Kiran Vasireddy chief operating officer (COO) of its payments business. Vasireddy is a senior vice-president at Paytm’s parent firm One97 Communications Ltd since March 2014.

Vasireddy will oversee all product and business functions for the payments division and assist in the company’s aim to reach 500 million customers by 2020, Paytm said. It currently has over 200 million users.

A graduate from University of Bedfordshire, UK, and University of Mumbai, Vasireddy is associated with Paytm since early 2012. He has been involved in a number of projects; particularly Paytm’s offline payments and QR code (quick response) solutions that saw aggressive adoption in the period following Indian government’s currency conversion exercise announced on 8 November last year.

“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,” said Vijay Shekhar Sharma, founder and chief executive officer at One97 Communications.

The announcement comes amid an organizational shuffle at the Noida-headquartered firm as it deploys resources towards its e-commerce business under the newly carved out entity Paytm E-Commerce Pvt. Ltd. It recently named Amit Sinha the COO of Paytm Mall and announced that it had transferred about 800 personnel to the e-commerce entity.

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