Priya Patel
TLDR:
– Fintech companies are looking to hire talent from Paytm following the central bank crackdown on the company’s payments bank unit.
– Recruitment services firms have reported an increase in interest from Paytm employees in tech and sales roles, while legal and compliance professionals are finding fewer opportunities.
– Paytm’s competitors, including Phonepe and MobiKwik, have denied actively seeking Paytm talent but have acknowledged the possibility of hiring some employees in sales and business development roles.
– Fintech startups are particularly interested in hiring individuals with fintech talent in artificial intelligence and other technology-related fields.
Fintech companies in India are seeing an opportunity to hire talent from Paytm, a major digital payments provider, following the central bank’s recent crackdown on Paytm’s payments bank unit. Recruitment services firms have reported an increase in interest from Paytm employees in tech and sales roles, while legal and compliance professionals are finding fewer opportunities.
While several fintech industry insiders have confirmed the trend, companies on record, including Phonepe and MobiKwik, have denied actively seeking Paytm talent but have acknowledged the possibility of hiring some employees in sales and business development roles. Phonepe, for example, stated that it is ramping up its sales teams to meet merchant demand and may hire some business development executives from Paytm in the process.
Recruitment services firms have also reported increased interest in Paytm’s talent pool. Michael Page has received inquiries from two unicorns and four other startups in the fintech, ecommerce, and D2C segments. CIEL HR Services has seen a threefold increase in activity from Paytm employees on public job boards. Paytm employees in sales, business development, channel management, product management, and tech roles are actively seeking new opportunities.
However, there are fewer opportunities for legal and compliance professionals, especially at the senior and mid levels. Prospective employers or clients are not outright rejecting resumes from people in these functions but compliance teams may face challenges in being accepted. Some fintech startups are looking to hire fintech talent in artificial intelligence and other technology-related fields.
Overall, fintech companies in India see an opportunity to hire talent from Paytm amid the central bank’s actions. While legal and compliance professionals may have fewer opportunities, individuals with tech and sales expertise are in high demand.
