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May, 04 2015

After IRCTC, Paytm joins hand with QSRs for offline payment

Recently, Paytm had forayed into the eCommerce space putting itself in direct competition with giants like Amazon, Flipkart and Snapdeal.

Paytm, the online recharge and payment services is entering offline space by partnering with QSR chains like CCD and Domino’s.

As the Alibaba- backed company is planning to enter the offline retail space, the customers can have the access to Paytm’s mobile at these restaurants.

At present, Paytm offers and recharge services for DTH and mobile phone services as well as mobile wallet services for online transactions on Uber, Bookmyshow, eBay and IRCTC.

"We are now foraying into the offline space. We have partnered with various QSRs covering 7,000-10,000 outlets in cities like Delhi, Mumbai, Bangalore and Hyderabad," said Amit Lakhotia, Vice-President (Business), Paytm.

A mobile wallet is a prepaid payment instrument, which allows customers to digitally store money in a secure virtual wallet and use it to pay bills and other services.

Recently, Paytm had forayed into the eCommerce space putting itself in direct competition with giants like Amazon, Flipkart and Snapdeal.

"Mobile wallet usage is definitely growing in the country. On our platform alone, about 66 million people are using the wallet services and the number will cross 100 million much before the year ends," added Lakhotia.

By going offline, Paytm will offer customers the choice to pay through a secure and reliable platform.

Paytm is expecting a revenue of USD 4 billion (Rs 25,417 crore) by year-end from USD 1.5 billion at present.  

Comment
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