e-wallet firms to hire 200 graduates from IITs, IIMs, other top colleges | business-news | Hindustan Times
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e-wallet firms to hire 200 graduates from IITs, IIMs, other top colleges

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.

business Updated: Nov 30, 2016 12:14 IST
Rozelle Laha
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.
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.(HindustanTimes)

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 hire 100 graduates this year. MobiKwik in its bid to create a brand will recruit 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 will continue to hire freshers and experienced professionals across diverse roles to keep up with our growth,” says Amit Sinha, senior vice-president, Paytm.

Read more: Core engineering, data analytics top job drivers at IITs this year

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 adds.

MobiKwik plans to hire 100 graduates from IITs and IIMs at an average salary of ₹15 lakh per annum. “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. While virtual wallet companies are already hiring people to fulfil immediate requirements, graduates will join work in June.

Also read: Startups stay away from IITs this year