Paytm adds three industry veterans to its board

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Indian mobile payment platform Paytm has made three new additions to its board of directors, including Facebook’s first female engineer and the former global business head of WhatsApp.

The payment firm has snapped up three of India’s brightest talents within the technology industry – Ruchi Sanghvi from Facebook, Neeraj Arora, the former business head at WhatsApp and Naveen Tewari, creator of Indian mobile advertising network InMobi.

‘‘Ruchi, Neeraj and Naveen all come with tremendous internet commerce experience with highly renowned brands. Their contribution will help in scaling Paytm to become India’s most dominant mobile internet company,’’ commented Vijay Shekhar Sharma, founder and CEO of Paytm.

The Alibaba backed company has hired the three innovators to compete with other Indian e-commerce companies including Snapdeal, Amazon and Flipkart. Morgan Stanley estimates that the Indian e-commerce market will rise to $137bn by 2020.

Recently Paytm has tried to increase its consumer reach in India, partnering with restaurant and taxi companies during the past two months.

‘‘We look to bring global talent and best practices for scaling to half-a-billion Indians on the Paytm platform. I can see our very strong independent board helping us achieve that,’’ continued Sharma.

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