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LIC picks Paytm to process digital payments for premiums

Shortpedia

Content Team
Image Credit: shortpedia

State-run insurance behemoth Life Insurance Corporation of India (LIC) has reportedly appointed fintech unicorn Paytm to process digital payments for customer premiums and other transactions. A report said, citing sources, that LIC has sought a contract with Paytm to shift its digital payment gateway requirements to the platform. The new contract required a smoother payment process, wider variety of payment options.