Alibaba-backed Paytm on Thursday has entered the Canadian market with the launch of its bill payments service in the North American country.
The app will be available for both Android and iOS users in Canada, the digital payments company informed. Paytm already has set up its Paytm Labs, located in Toronto, Canada, which is the research and development division of Paytm.
Paytm Labs has expanded its team, growing from a two-person operation to a full-fledged team of data scientists and engineers, the company added.
Paytm statementUsers in Canada will now be able to pay for their cell phone, cable, internet, electricity and water bills. In addition to this, users will also be able to pay for their insurance and property taxes by using the new Paytm Canada app
In India, Paytm is one of the largest financial technology platforms. With a current user base of over 200 million, Paytm offers services like payments/recharges, mobile wallets, e-commerce and will soon launch payment banking services.
Its investors include Ant Financial (Alipay), Alibaba Group, SAIF Partners and Mediatek.