Paytm has hived off its payment gateway business into a separate entity, Paytm Payments Gateway Service Pvt Ltd, and has infused ₹100 crore worth of equity capital into the new entity, Entrackr reported. Paytm Payments Gateway mainly caters to corporate or institutional clients and provides online gateway services, unlike Paytm's other arms which are consumer facing. A senior official at Paytm confirmed the development to MediaNama but declined to comment. MediaNama could not independently verify the development through public documents from the Ministry of Corporate Affairs as access to the website was not available at the time of publication. So far, Paytm was running the payments gateway business under its parent company, One97 Communications Ltd. By hiving off the business, Paytm can grow its merchant base for online gateway services separately taking on several new and legacy fintech players and…
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