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Renu Satti has resigned from the role and moving to Paytm’s new initiative. She had taken over the CEO role last year, Paytm will soon look for replacement of Renu, and paytm will soon start recruiting a new CEO for Payment Bank.
Now Renu will be taking charge as COO of new Paytm’s initiative. Paytm said in a statement in the past, Renu has build businesses ground up that include market place, movie ticketing and most recently Paytm Payment bank.
She has been champion of new business launches and her acumen makes her perfect candidate for leading this important launch, ” the company said. Under its ‘New Retail’ model, consumers will soon be able to discover nearby pharmacies, groceries and other shops to place an order and get instant deliveries. Paytm is also building P2P logistics with a network spread across the country which will be utilised for intra-city deliveries, the statement said. The company has already partnered with a large network of local shops, restaurants, pharmacies and groceries for accepting Payments and will soon extend ‘New Retail’ services to them, it added. “We will work with local restaurants, grocery stores and pharmacies to enable them for local ordering and delivery,” Paytm founder and CEO Vijay Shekhar Sharma said. Local ordering is expected to become one third of Paytm orders and gross merchandise value (GMV) by 2020, he added.
