e-commerce
Fintech upstart Pay10 recruits GoKwik marketing chief
MUMBAI: Pay10 India has roped in Joyeeta Ghosal from e-commerce enabler GoKwik to lead its marketing charge as the fintech outfit seeks to muscle into India’s crowded payments landscape. Ghosal, who spent over three years as head of marketing at GoKwik, has been appointed senior vice-president and head of marketing and communications at the alternative payments specialist.
The hire marks a homecoming of sorts for Ghosal, who previously cut her teeth in financial services during a near four-year stint at Home Credit India, where she rose from senior manager to head of marketing communications. Her track record spans traditional media, telecommunications, and consumer finance—experience that could prove crucial as Pay10 attempts to differentiate itself in a market dominated by heavyweight rivals.
Before her GoKwik tenure, Ghosal honed her brand-building credentials across diverse sectors. She managed marketing communications for Czech lender Home Credit during its aggressive Indian expansion, crafted customer insights at telecom giant Vodafone, and helped launch Bengali daily Ebela at media house ABP Group—a project later showcased at the World Newspaper Congress in Bangkok.
Her appointment comes as India’s payments sector faces increasing fragmentation, with niche players attempting to carve out specialised niches amid the dominance of established giants. Pay10’s focus on “open finance solutions and alternate payment methods” suggests an attempt to exploit gaps left by mainstream providers.
The move also highlights the ongoing talent shuffle in India’s fintech ecosystem, where experienced marketing professionals command premium valuations as companies vie for consumer mindshare. For Pay10, landing a veteran who has navigated both traditional financial services and cutting-edge e-commerce represents a strategic coup.
Whether Ghosal can translate her diverse experience into market traction for Pay10 remains the acid test. In a sector where regulatory headwinds and competitive pressures have claimed numerous casualties, her cross-industry expertise may prove the difference between breakthrough and bust.
e-commerce
Flipkart rolls out 105 per cent bonus for 20,000 employees
Strong FY25 performance drives payouts even as layoffs and shifts unfold.
MUMBAI: In a year where belts were tightened and rewards loosened, Flipkart seems to be playing both offence and defence trimming roles on one hand while handing out a generous 105 per cent bonus on the other. The Walmart owned e commerce major has rolled out a 105 per cent bonus payout for 2025, covering nearly 20,000 employees, signalling a year of steady operational momentum even as the company navigates restructuring pressures. The payout, communicated internally by chief human resources officer Seema Nair, is tied to performance across key metrics including growth, operational efficiency, financial outcomes and people indicators, a combination that suggests the company is inching closer to its long stated goal of sustainable profitability.
Employees at SD level and below are set to receive their bonuses in March, while payouts for senior leadership, including vice presidents and senior vice presidents, will follow after the close of the performance cycle. The elevated 105 per cent multiplier stands out in a sector where cautious payouts have increasingly become the norm, pointing to what appears to be a relatively strong internal scorecard for FY25.
Yet, the announcement arrives with a noticeable contrast. Earlier this year, Flipkart reduced its workforce by around 300 roles as part of its annual performance review process. While officially framed as performance driven, the juxtaposition of layoffs alongside above target bonuses reflects a more nuanced balancing act, one that prioritises cost discipline while continuing to reward and retain high performing talent.
This dual approach is becoming increasingly common across the technology and e commerce landscape, where companies are navigating an uneven hiring environment while under pressure to deliver profitability. Rewarding top contributors, even amid selective workforce reductions, allows firms to maintain morale and retain critical talent without losing sight of financial prudence.
At the same time, Flipkart is also undergoing leadership shifts that hint at a broader strategic recalibration. Nishant Verman has been appointed senior vice president for corporate development and partnerships, while group chief financial officer Sriram Venkataraman is set to step down. Ravi Iyer will take on expanded responsibilities within the finance function, marking a reshuffle at the top as the company gears up for its next phase.
These changes come amid reports that Flipkart is planning to shift its holding structure back to India, a move widely interpreted as groundwork for a potential public listing. While timelines remain fluid, the combination of stronger financial discipline, leadership restructuring and employee incentivisation suggests a company preparing itself for greater scrutiny and scale.
For employees, the 105 per cent payout offers a welcome boost in what has otherwise been a period of adjustment. For Flipkart, it is a signal that even as it cuts where necessary, it is willing to spend where it counts. In the high stakes game of growth versus profitability, the company appears to be hedging its bets carefully, rewarding performance while reshaping itself for what could be its most defining chapter yet.
