One97 Communications, the parent entity of Paytm has announced the launch of its AI Cloud computing platform “Paytm AI Cloud for India” for developers, startups and enterprises.

The platform is mainly aimed at offering business-centric apps for organizations that need high-quality solutions for cloud computing, automate their workflow, easy payments, messaging and customer engagement without the hassle of managing hardware and software.

In a statement to the press, the largest digital payments company said that Paytm AI Cloud processes and stores all their consumer data locally in servers located only in India while conforming to the highest security and privacy standards. The company has committed around Rs 250 crore in this business.

“Every new-age organisation needs better collaboration and workflow automation tools to become more productive and efficient. Paytm AI Cloud packages all these into one; saving organisations time, money and resources, so they are able to better focus on building products that change the world.” said Sujit Kumar Mishra, vice president, Paytm. “At Paytm, we have always ensured the highest standards of customer data privacy and security. Our customer’s data is processed and stored locally in India with no access to any third party or investors.”

The company has partnered with Alibaba for Cloud Computing Infrastructure. It will soon offer enterprise-messaging solution in partnership with DingTalk.