An advertisement of Paytm, a digital wallet company, is seen placed at a fruit stall in Kolkata, India, January 26, 2017. Picture taken January 26, 2017. REUTERS/Rupak De Chowdhuri
MUMBAI: Indian digital payments firm Paytm, which is backed by Asian technology giants SoftBank Corp and Alibaba Group Holding, launched a niche bank on May 23, part of a plan to more than double its customer base to 500 million in the next three years.
Paytm Payments Bank will help the firm reach tens of millions of Indians who use mobile phones and cheap data services in the world's fastest-growing internet services market but do not have access to the formal banking sector.
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