Users will be able to book railway and flight tickets through their Paytm accounts before the upcoming Diwali season, Vijay Shekhar Sharma, founder of Paytm said on the sidelines of the India Retail Forum on Wednesday.
The company has already signed a partnership with the National Highways Authority of India (NHAI) to allow for cashless transactions for highway toll.
Paytm has updated its app to enable buying movie tickets. While these are what consumers can expect from the company’s wallet business, there’s more that Sharma is going to roll out for the marketplace vertical.
In tandem with its offline rivals, Paytm is deepening its omni channel network. Before Diwali, the company has signed up with 100 physical stores from where customers can pick up their online orders, channeling an inroad into the click-and-collect trend. This feature will be mainly for three categories, including, electronics, apparel and home furnishings, Sharma added.
These three categories comprise more than 60% of online retail demand, according to estimates.
This festive season is the first one after the government prohibited deep discounting in the e-retail space by the players. Following this, valuations of major online market places were marked down
Meanwhile, Sharma does not seem to be worried. He reiterated that in July, Paytm raked in a million orders in two days despite lower discount levels and general tepid consumer sentiment. He said he is confident sales will jump more than two fold if compared on an annual basis.