Correct Answer : HDFC Bank
Paytm and HDFC Bank on 23-08-2021 announced that they have entered into a strategic partnership to build comprehensive solutions across payment gateway, point of sale machines, and credit products including Paytm Postpaid which is Buy Now Pay Later (BNPL) solution, Eazy EMI and Flexi Pay.
The partnership will aim to empower new businesses which have recently ventured online, and enable them to scale up.
The strategic partnership with the country’s largest private bank comes ahead of the proposed initial public offering (IPO) of Paytm, through which the company plans to raise Rs 16,600 crore before the end of the calendar year.
The first leg of the partnership will include a payment gateway and POS solutions for Indian merchant partners. HDFC Bank will be the payment partner, while Paytm will be the distribution and software partner.
HDFC Bank salespersons will start selling Paytm’s payment solutions in the market.
