One 97 Communications, the parent company of Paytm, has announced plans to expand its operations to Singapore, the United Arab Emirates, and Saudi Arabia.

The company plans to invest up to 20 crore rupees (US$2.31 million) in each market to deploy its merchant payment and financial service products, according to a regulatory filing.

Paytm’s strategy includes pursuing organic growth as well as partnerships and obtaining local licenses in these countries.

Additionally, Paytm has appointed Bimal Julka, a former bureaucrat, as a non-executive independent director.

Julka previously served as secretary to the Ministry of Information and Broadcasting.

Recent Paytm developments