In growth push, e-wallet firms eye 200 hires from IITS, IIMS

The demonetisation drive has brought good news for fresh graduates of top colleges as mobile wallet firms plan to expand business operations due to a surge in wallet transactions.

Paytm, the largest mobile payments and commerce platform, plans to recruit 100 graduates thisyear. Mobikwikwillrecruit nearly 200 people and strengthen its sales, marketing and business development departments.

Since the government demonetised ₹500 and ₹1,000 notes on November 8, Paytm has added five million new users and registered over seven million transactions worth ₹120 crore in a day. Mobikwik with a user base of 40 million has seen a growth of 40% in daily app downloads.

“We’ll continue to hire freshers and experienced professionals across diverse roles to keep up with our growth,” said Paytm’s senior vice-president Amit Sinha.

Apart from IITS and IIMS, Paytm has in the past hired graduates from BITS Pilani, National Institutes of Technology, Indian Institutes of Information Technology, FMS Delhi, XLRI Jamshedpur, MDI Gurgaon, SP Jain Institute of Management and Research, Mumbai, and Indian School of Business, Hyderabad.

“This year will be no different,” Sinha added.

Mobikwik plans to hire 100 graduates from IITS and IIMS at an average annual salary of ₹15 lakh. “Over the next six months, we plan to invest 10 million dollars on team expansion and increase the team size from 210 to 400,” said Bipin Preet Singh, founder and CEO, Mobikwik.

Freecharge, owned by e-commerce giant Snapdeal, refused to divulge any details. Company CEO Govind Rajan said, “Given the sharp increase in usage in recent weeks, we are expanding the customer acquisition team.”

The final placements across all B-schools and engineering colleges will be held from December onwards.

MOBIKWIK WILL RECRUIT NEARLY 200 PEOPLE IN ORDER TO CREATEABRAND.PAYTM TO HIRE 100 GRADS.