BENGALURU: Paytm has partnered with Alibaba to start its cloud business here. The Indian digital payments firm, where Alibaba is a significant investor, has licensed the Chinese e-commerce giant’s technology for cloud infrastructure, Paytm said. This will provide AI tools to developers, startups and enterprises with CRM , campaign management and payment solutions.

While the company is licensing Alibaba’s tech, it stressed the data will stay within the confines of the country. The development comes at a time when the RBI has asked payments companies to store their data locally. Paytm has been in favour of the RBI’s regulation. Paytm said it is investing about Rs 250 crore in the business for the initial phase.

