With Artificial Intelligence being the trending flavor in demand for every service, including Cloud computing services, Indian digital payments major Paytm on Tuesday launched AI Cloud computing platform by collaborating with Chinese tech giant Alibaba. The service was started to target customers like developers, enterprises, and start-ups in India.]

The newly launched platform offers business-centric apps for organizations included in the suite in way that the consumers get high-quality solutions for cloud computing, ready-to-use services to help automate their workflow, messaging and customer engagement, easy to integrate payments without any issue to manage hardware and software, Paytm parent company One97 Communications said in a statement.

The specialty of Paytm is that the company’s AI Cloud processes and stores all the data related to its consumers on local servers located in India, One97 Communications said.

“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,” said Sujit Kumar Mishra, Vice President, Paytm.

Alibaba had earlier raised some concerns about the possibility of a threat to national security. The Chinese company holds a large stake in Paytm and had earlier applied for a non-banking finance company (NBFC).

The reference was quoted in the Rajya Sabha in July through the nominated member Narendra Jadhav.

While replying to the concerns, the Paytm parent company One97 Communications Ltd said that the company never allows sharing of its user’s data with any of the third-party agencies, investors, stakeholders or any kind of foreign entity.

The newly launched AI Cloud platform by Paytm is said to offer in-built CRM (customer relationship management), easy to integrate payment solutions and campaign management.

The AI Cloud platform has also built various kind of tech solutions offering services to the enterprises like ready-to-use-apps, pre-trained models, pattern recognition tech, easy-to-access computing services and predictive computation to businesses.

According to Paytm, the company would soon be ready to offer an enterprise-messaging solution in partnership with Alibaba to offer enterprise communication and collaboration platform DingTalk.

Paytm is launched in August 2010 as an Indian e-commerce payment system in August 2010 and its headquarters are located in Noida SEZ, India. The services offered by Paytm come in 10 Indian languages and they include mobile recharges, travel, utility bill payments and event bookings.

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