Ramana Kumar was named CEO of Paytm’s Middle East division by One97 Communications, indicating a calculated move to increase the company’s footprint in the United Arab Emirates and surrounding areas.
Previously serving as the founding CEO of Magnati, a well-known payments company in the United Arab Emirates and a division of First Abu Dhabi Bank (FAB), Kumar is an accomplished professional with over twenty years of experience in the fintech, payments, and banking industries. Additionally, he held top leadership positions at National Bank of Abu Dhabi (NBAD) and FAB, where he played a key role in expanding the infrastructure for digital banking and payments.
Through the introduction of digital payment solutions catered to the particular requirements of the Middle Eastern market, Kumar will lead efforts at Paytm to duplicate the company’s success in India, where it pioneered mobile payments, QR code adoption, and Soundbox devices.
“We welcome Ramana, who has built a formidable merchant payments business in the UAE,” said Vijay Shekhar Sharma, Founder and CEO, Paytm. “We aim to serve the region by building and bringing strong regional leadership, backed by our proven technology.”
Expressing his vision for the role, Kumar said, “The region is rapidly adopting digital payments, and there’s a strong demand for innovative, secure and scalable solutions. Paytm’s technology, built and refined in India, is well-suited to meet these needs. We will work closely with regulators and ecosystem partners to introduce impactful innovations.”
The hiring is in line with Paytm’s long-term global strategy, which aims to penetrate high-potential overseas markets by utilizing its technology-driven financial services platform.
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