NEW DELHI: Mobile payments and e-commerce company Paytm is close to finalising technology outsourcing contracts worth Rs 125 crore to manage the back-end for its payments bank which it expects to roll out in August.IT firms including Infosys , Wipro, TCS , Oracle and HP have bid for the contracts which are likely to be allotted in the next one week, Paytm’s co-founder Vijay Shekhar Sharma told ET. The deals will mainly cover core banking, fraud detection and security, he said.The payments bank will be launched in August, said Sharma. “Internally, we were changing the (launch) date with the intention that by June we should pull it off, but July will also get covered because there’s so much technology implementation happening,” he said.Paytm got the payments bank licence last year, along with 10 others.Oracle, Infosys and TCS are in the running for core banking services for payments, while Wipro and TCS are in the fray for being the system integrator, Sharma said.Infosys, Wipro, TCS and HP declined to comment while Oracle did not respond to ET’s emailed queries.Paytm recently appointed Shinjini Kumar, a former central banker and senior executive at consultancy PwC, as the CEO of the payments bank. The company has also hired Saurabh Sharma, a former Airtel executive, to head merchant and agent acquisition and Vikas Purohit, who was formerly with Amazon India, to lead the banking operations.Payments banks can accept demand deposits and savings bank deposits from individuals and small businesses up to a maximum of Rs 1 lakh per account. Non-resident Indians cannot bank with these ventures, which also cannot disburse loans. However, they can sell mutual funds, insurance and pension products as well as facilitate payments and remittances with a focus on the unbanked segments such as migrant workers.