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Alipay and Paytm customers can soon make purchases on each other’s platforms

Our Digital Payments coverage is brought you by Chillr: India’s 1st multi-Bank instant mobile payment app enabling fund transfers to anyone in your phonebook. Paytm and Alibaba have entered into a commercial agreement to allow Paytm to deploy Alipay’s technology via AliCloud. The agreement will allow both firms to integrate their existing platforms to work with each other, reports Mint. A Paytm spokesperson confirmed the development to MediaNama. Paytm will invest about Rs 120 crore for deployment, which will essentially allow Alipay’s global customers from China, Japan, US and the UK buy from Paytm’s merchants and Indian Paytm users to buy from merchants listed on Alipay. The companies will operate on a commission basis. Inmobi, Alipay and Paytm​: In September last year, mobile ad network Inmobi partnered with payment companies Stripe, Alipay and Paytm to enable payments over its advertising discovery platform Miip. With this partnership, Stripe would be handle payments in the United States, Alipay in China and Paytm in India. Hiring for payments​: Note that Paytm appointed Varun Khullar as head of partnerships for its payments bank earlier this month. Khullar would lead partnerships and build partners in insurance companies, banks and nonbanking financial institutions. Paytm also appointed Vikas Purohit in a leadership position for its payments bank, and said it planned to hire 3,000 people for the same business. RBI nod: ​In August, the RBI granted “in ­principle” approval to 11 applicants for payments banks, from 41 applications that it received, out of which Paytm was one. Paytm has…

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