Wipro has entered into pact with Paytm whereby the software major will be implementing core technology solutions for Paytm’s payments bank business, which is expected to be rolled out in the second half of 2016. The contract is for a period of one year.
Wipro will implement core-banking solutions for Paytm and also the programme to manage the integration of other key systems like anti-money laundering and regulatory reporting solutions.
Paytm, a digital wallet and ecommerce company, received the central bank's in-principle approval to set up a payments bank in August last year.
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