Paytm, India’s one of the leading mobile payment and commerce platforms, has registered over one million flight and bus ticket bookings on its Travel Marketplace in August. The company expects the growth of travel business to get double in the next six months
Paytm’s bus tickets business recently turned break-even. The Hotels category is expected to turn break even very soon and the flights bookings has been organically scaling at a 4x month-on-month growth since its launch in May. Paytm will soon launch new categories and ancillaries to further promote the cashless transaction across the country. To fuel this growth, the company will further invest INR 300 crore on its travel business.
Being modeled as a marketplace, Paytm has multiple sellers providing various travel services to customers. This allows the platform to offer a diverse selection at the most competitive price. Abhishek Rajan, Vice President, Paytm, said, “At Paytm, we are building India’s largest travel marketplace with the mission to solve every need of a traveller – be it transport, accommodation, activities or ancillaries. We have seen exponential growth in all categories and will soon offer new services to our customers. Leveraging Paytm’s significant market penetration and strong brand proposition, we hope to grow India’s online travel booking pie by introducing new customers from tier II, III towns and cities to this category.”
The company has set up a 100+ member team in its Bengaluru office to drive innovation in the category. This move is an important step in the vision of making cashless transactions a way of life across all consumer segments and demographic profiles in India.