Paytm Payments Services’ Managing Director and Chief Executive Officer (CEO) Nakul Jain has resigned from the company, according to the stock exchange filing by parent firm One97 Communications Ltd.
“Jain has decided to pursue an entrepreneurial journey, which has led him to this decision,” the company said.
Paytm Payments Services Ltd (PPSL) is looking for an eligible successor and will announce the new appointment in due course. PPSL is Paytm’s arm that helps in handling payment gateway and payment aggregator divisions among others.
Jain was appointed as the MD and CEO of Paytm Payment Services in 2022. Before this, he served as managing director of private banking, priority banking, deposits, and branch banking at Standard Chartered Bank.
Jain has more than two decades of experience in payments and retail banking across online payments, branch banking, wealth management, products, and segments. Jain worked in different positions with ICICI Bank for nearly 16 years. He was also Executive Vice President at IndusInd Bank between 2015 and 2017.