Paytm has realised that with remote working, new hires can be taken on from small cities, without them having to relocate to its offices in the bigger cities. The Company also plans to allow up to 25 per cent of its staff to continue working remotely in the future.
The Indian e-commerce payment system and fintech company, plans to pick talent from places, such as Jalandhar and Chandigarh without asking them to move. Initially, it had expected the new hires to join its bigger offices, but now it doesn’t feel the need for them to move at all, even if the pandemic situation improves.
One 97 Communications Limited, the parent company that owns and operates Paytm reported that its consolidated revenues for the financial year 2019-20 was Rs 3,629 crore, which is a 1.4 per cent increase from its revenues in the previous financial year.
Paytm Payouts, which is Paytm’s digital money transfer service for businesses, reportedly processed more than Rs 1,500 crore in salaries and other benefits for medium and large enterprises during the lockdown. Paytm Payouts aims to help businesses make payments to their staff, suppliers, vendors and business partners.
With organisations increasingly resorting to digital money transfers to pay salaries and other benefits to their staff and associates during the pandemic, Paytm Payouts had many takers as it eases the job of tracking and reconciliation of various payments.