Paytm, an Indian digital payments and financial services company near New Delhi, plans to hire about 4,000 people over the next nine months through March 2027 and cut about 400 employees after appraisals.

It is expanding its merchant network and AI products after regulatory action against Paytm Payments Bank.

The move would increase Paytm’s workforce of about 40,000 by roughly 10%.

The company said it has already added more than 800 employees and is recruiting across product, technology, AI, and senior leadership roles.

Paytm has reported four straight quarters of profit after cutting more than 4,500 jobs.

The Reserve Bank of India barred Paytm Payments Bank from onboarding new customers in 2022 over compliance concerns, including know-your-customer rules.

In 2024, the central bank also stopped the bank from accepting new deposits, processing credit transactions, and allowing wallet and FASTag top-ups.

The central bank later canceled the license of the independent affiliate as it wound down.

Paytm has also launched an AI Soundbox for merchants that gives payment updates and business insights in 11 Indian languages.

🔗 Source: Bloomberg

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