Paytm announced on Monday that it has appointed Goldman Sachs Asia-Pacific (APAC) chairman Mark Schwartz to the company's board. 

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“We are honoured to welcome Mark Schwartz to Paytm's board,” said Paytm's founder and chief executive officer (CEO) Vijay Shekhar Sharma in a press release. 

"He has played a critical role in building leading businesses in the Asia Pacific region and across the world. I am confident Schwartz's insights would offer excellent leadership for Paytm as we work towards bringing half a billion Indians to the mainstream economy,” Sharma added. 

Schwartz, who is presently based in Beijing, posses 27 years of experience in Goldman Sachs. He was vice chairman of the Goldman Sachs Group and chairman of Goldman Sachs in Asia-Pacific. 

“I’m thrilled to join Paytm as a board member," Schwartz said in a statement. 

India is one of the most dynamic and interesting economies in the world and I’m incredibly excited about working with Vijay and his team, Schwartz further added. 

Schwartz played a major role in helping Alibaba founder Jack Ma and executive vice chairman Joseph Tsai with Alibaba’s $25 billion (nearly Rs 1,66,318.8 crore) initial public offering (IPO) in New York in 2014, cited the statement. 

Paytm is India's homegrown mobile payment and commerce platform headquarted in New Delhi and is owned by mobile internet company One97 Communications.