Alibaba joins hands with Paytm to launch cloud services for developers
Widening the horizon of its B2B segment, Alibaba the Chinese e-commerce giant has entered into the partnership with Paytm for cloud business. Paytm is a renowned Indian digital payment firm and Alibaba is a big investor. Now it has licensed Alibaba for the cloud infrastructure, thus providing all Artificial Intelligence tools to startups, developers and enterprises with CRM.
Paytm is pumping a whopping sum of 250 crores into the business during the starting phase. This licensing has cropped up at a time when the Reserve Bank of India has ordered the payments companies to store all their data locally. So, the data is expected to stay within borders of the country, but with the maintenance of the highest standards of security and privacy.
The cloud platform launched by Paytm is called ‘Paytm AI Cloud’. This cloud computing platform offers multiple business-centric apps that also encompasses ready-to-use services which aim to automate the workflow of companies, make integration of payments easier, and enhance customer engagement.
With the launch of the data center in India, Alibaba Cloud has promised to offer highly efficient, secure products and services to the clients in India across different segments such as e-commerce, media, gaming, and retail and other sectors via a huge network of distributors.
Alibaba’s Cloud first data center opened in Mumbai early in January. One on one relationship is being promoted for each and every customer across different channels.
Paytm lays emphasis on full-stack payment infrastructure for accepting payments. It executes payouts both online or offline. Because of its trouble-free API, the developers can leverage the potential of integrating payment gateway of Paytm which accepts payments by use of different payment systems such as Net banking, UPI, credit/debit cards, and Paytm Wallet.
Enterprises can now easily plan the customer’s lifecycle, interaction touch-points, and offer differentiated services, rewards etc which hold relevance to their business.