One97 Communications Ltd, which operated Paytm has appointed Kiran Vasireddy as the Chief Operating Officer (COO) for its payments business.
Going forward, Vasireddy will be overseeing all product and business functions for the payments division in line with its growth plan for bringing 500 million Indians into the mainstream economy, it said in a statement.
“This year, we are aiming for 10 million merchants on our platform, which puts us on the right path to build one of the largest payments networks in the world,” said Vasireddy.
He has been associated with Paytm for over a decade and under his leadership, Paytm has ventured into multiple new avenues for digital payments across categories such as utility payments, transportation, education fees and metro recharges, among others, it said.
Paytm had recently demerged its e-commerce business into a separate entity called Paytm E-Commerce Pvt. Ltd, which runs Paytm Mall. Subsequently, it had appointed Amit Sinha as the chief operating officer of Paytm Mall.
It had also inducted SAIF Partner’s Ravi Adusumalli and four top executives from Alibaba as its board of directors in April.
Last October, the mobile-wallet company had appointed former Citigroup executive Madhur Deora as it chief financial officer and senior vice-president.