Paytm Partners With Alibaba

Digital payments firm Paytm has partnered with China’s Alibaba to launch AI-based cloud computing platform ‘Paytm AI Cloud’. The platform will offer business-centric apps to developers, startups and enterprises that need cloud-computing solutions including customer engagement and easy-to-integrate payments.
It will process and store all consumer data locally in servers located only in India. The company has committed around Rs 250 crore in this business. 

Source- The Tribune

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • Alibaba’s Cloud computing business, which opened its first India data centre in Mumbai in January. 
  • Vijay Shekhar Sharma is the Founder of Paytm. 
  • Jack Maa is the founder of Alibaba.