New Delhi, Aug 22 (KNN) Payments services provider Paytm, owned by One97 Communications Ltd, has partnered with Alibaba to launch its artificial intelligence (AI) cloud computing platform Paytm AI Cloud for developers, start-ups, and enterprise.

Paytm AI Cloud will offer services including Paytm’s payment gateway for online and offline transactions, business-centric applications and cross messaging platforms such as email, chat and video call.

The company said that its cloud will process and store all consumer data locally, in servers located only in India.

It further said that it will invest Rs 250 crore upfront towards the new business and will continue to pump in capital as and when required.

Commenting over this development, Paytm, Vice President, Sujit Kumar Mishra said “Every new-age organization needs to be AI-enabled.They need growth engines to acquire customers, engage one-to-one with them, and AI empowered systems to predict their business.”