Paytm is partnering with travel aggregators such as Skyscanner, GoogleFlights, Wego to expand its travel segment, the company said in a stock filing report. It is planning to partner with other international aggregators such as Cambodia Angkor Air, SalamAir and FlyDubai. The filed a Disclosure under regulation 30 of SEBI
The company has reported that its market share [OF WHAT?] in Q4 has increased as the passengers grew by 19% and 15% [WHICH SEGMENTS?] year-on-year growth in international ticket bookings. The company recently entered into a NDC integration with Amadeus, featuring Singapore Airlines,Qatar Airways and Eva Airways.
Paytm owned by One 97 Communications is India’s digital payments and financial services company. It was founded in 2010 by Vijay Shekhar Sharma. The company offers mobile payment services to consumers and enables merchants to receive payments through QR code payment, Payment Soundbox, Android-based-payment terminal, and online payment services. The company has been in the news this year for multiple reasons.
In January, the Reserve Bank of India ordered Paytm Payments Bank Ltd, a restricted bank that can take deposits and cannot lend, to not take any further deposits or conduct credit transactions or carry out top-ups on any customers accounts, prepaid instruments, wallets, cards for paying road tolls after February 29 due to money laundering concerns. Further RBI issued a set of FAQs to address issues related to similar financial institutions.
The company is also in talks with Zomato for sale of its movies and ticketing business.
In relation to the new partnership the Paytm spokesperson said, “We are committed to expanding our travel business offerings and enhancing the overall customer experience. Our partnerships with global travel aggregators and leading airlines, combined with the integration of artificial intelligence, underscore our dedication to providing seamless, convenient, and competitive travel solutions. As we continue to innovate and grow, we aim to deliver exceptional value and a superior travel experience to our customers.”ss
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Published: 24 Jun 2024, 02:13 PM IST