Paytm Appoints Ramana Kumar as CEO for Middle East

New Delhi, May 22 (PTI) Payment services provider Paytm on Thursday announced the appointment of Ramana Kumar as Chief Executive Officer for its Middle East business, effective immediately.

Kumar will lead Paytm's expansion and growth in the UAE and the broader Middle East, concentrating on building digital payment solutions tailored to the local market, a company statement said.

"We welcome Ramana, who has built a formidable merchant payments business in the UAE. We aim to serve the region by building and bringing strong regional leadership, backed by our proven technology," Paytm Founder & CEO Vijay Shekhar Sharma said.

Kumar brings to Paytm over 20 years of leadership experience in fintech, payments, and banking sectors. Prior to this role, he was the founding CEO of Magnati, a payments company in the UAE and a subsidiary of First Abu Dhabi Bank (FAB).

He has also served as Executive VP at FAB, and as MD and Head of Global Transaction Banking -- Product and Business Management at the National Bank of Abu Dhabi (NBAD).

Upon his appointment, Kumar said the ME region is rapidly adopting digital payments, and there's a strong demand for innovative, secure, and scalable solutions.

"Paytm's technology, built and refined in India, is well-suited to meet these needs. We will work closely with regulators and ecosystem partners to introduce impactful innovations and strengthen the digital payments landscape," he said.