One97 Communications, widely known by its brand name Paytm, has appointed Ramana Kumar as Chief Executive Officer of its Middle East business, effective immediately, the company stated in an official statement.

In his new role, Kumar brings over two decades of leadership experience in the financial technology and banking sectors, with deep expertise in driving innovation and business growth. 

Most recently, he served as the founding CEO of Magnati, a leading payments company in the UAE and a subsidiary of First Abu Dhabi Bank. He played a pivotal role in transforming payment systems and driving business growth. At FAB, he also served as the Executive VP for around four years until 2021. 

In his previous roles, he worked with National Bank of Abu Dhabi in key roles including, as the Managing Director and Head of Global Transaction Banking, Head of Group Strategy and more. He also worked with Ernst & Young, Frost & Sullivan in leading roles in the beginning of his career. 

Based in the UAE, Kumar will “lead expansion in the UAE and the broader Middle East, focusing on developing digital payment solutions tailored to local needs. He will leverage the company’s proven technology and expertise as a pioneer of mobile payments and payment devices in India to drive regional growth. His appointment marks a key step in Paytm’s journey to bring its digital financial services to new international markets,” the company added. 

Welcoming Kumar in the leadership role, Vijay Shekhar Sharma, Founder & CEO of Paytm said, “We welcome Ramana, who has built a formidable merchant payments business in the UAE. We aim to serve the region by building and bringing strong regional leadership, backed by our proven technology.”

Ramana added, “I am excited to join Paytm and lead its Middle East business. 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 and strengthen the digital payments landscape.”

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The payment platform announced its plans to expand into the Middle East and set up Paytm Arab Payments LLC in the UAE. With an initial investment of AED 8 million, the company aims to bring Paytm’s payment and fintech services to the Gulf region.

“The company sees strong potential to expand its technology-driven merchant payments and financial services distribution model to international markets. Paytm is exploring select global opportunities as part of its long-term growth strategy, with meaningful results expected over the next few years,” the company added.