Paytm Cloud Sets Up UAE Subsidiary With $2.1 Mn Investment

Paytm’s fintech arm, Paytm Cloud Technologies Ltd (PCTL), has set up a fully owned subsidiary in the United Arab Emirates (UAE).

In a stock exchange filing, Paytm said PCTL will invest AED 8 million ($2.1 million or Rs 18.41 crore) to buy 80,000 shares in the new company, named Paytm Arab Payments LLC.

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“Paytm Arab Payments LLC will work towards expansion and distribution of Paytm’s technology led merchant payments and financial services stack in UAE,” the filing said. 

The fintech company said it doesn't need any government or regulatory approval to set up its new UAE subsidiary.

This move follows Paytm’s January announcement about plans to create a fully owned unit in the UAE. Back then, it also shared plans to expand into Saudi Arabia and Singapore to grow its tech-based payments and financial services globally.

Paytm had said it was exploring various strategies—like partnerships, investments, local licenses, and acquisitions—to strengthen its presence in these countries.

This international push comes as Paytm refocuses on its core digital payments business after the RBI’s action against Paytm Payments Bank last year.

As part of its growth strategy, the company also launched a new version of its soundbox device earlier this month, which now includes a screen for instant payment updates.

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