Paytm announces its AI driven Cloud platform
Indian e-commerce payment system and digital wallet company, Paytm has recently announced the launch of its AI and mobility driven cloud platform ‘Paytm AI Cloud for India' designed for developers, start-ups, and enterprises. All the consumer's data in the Paytm AI Cloud will be processed and stored in the data center located in India with the highest security and privacy standard.
Paytm will offer a suite of business-centric apps for an organization that needs high-quality solutions to cloud computing, ready to use service to automate their workflow, easy to integrate payments, messaging hardware and software. It also offers in-built CRM, Campaign Management and easy to integrate payment solutions. Paytm has partnered with Alibaba to provide cloud computing infrastructure and will soon be partnered with DingTalk to offer enterprise-messaging solutions.
"Paytm AI cloud saves organization time, money and resources," said Sujit Kumar Mishra, Vice-President at Paytm. “At Paytm, we have always ensured the highest standards of customer data privacy and security. Our customer's data is processed and stored locally in India with no access to any third party or investors,” he added.
With the Paytm AI cloud entering the cloud computing market and introduction of the new cloud computing policy in India, it will be difficult for the other tech giants that are offering cloud services to compete in India like Microsoft, Amazon, etc. The cloud policy of India drafted by a panel, headed by Kris Gopalakrishnan, aims at localizing the data of the consumers which is generated in India to utilize it at the time of the investigation. The central government is also planning for the local data storage requirement for digital payments and e-commerce sectors. If the policy is introduced, all the cloud services offering companies have to increase the number and size of the data centers in India to handle a huge amount of data locally generated every day.
The Co-Founder of Infosys, Kris Gopalakrishnan said, a "forward-looking" data protection regime was needed as India's IT laws framework was "not sufficient" for cloud computing. "We recommend localization of cloud data and any data that is stored about Indian entities or data generated in India. This data must be available for investigative agencies and national security agencies".