QR codes, mobile wallets, point-of-sale terminals and FASTag. These are the areas of activity commonly associated with Paytm. But behind its consumer-facing operations, the payments giant has been running a large business-to-business division for a while.

This arm is now figuring in more conversations of the top management as Paytm desperately tries to lift its position, and growth narrative, as a listed entity.

The company wants to ramp up its payment gateway business and cater to the new crop of direct-to-consumer brands and smaller merchants, according to two people aware of the developments. Apart from processing all their online transactions, it is offering them digital banking services and credit. Essentially, a complete financial suite.