Paytm has appointed Abhishek Rajan as the VP and head of its travel unit. Paytm has confirmed Rajan’s appointment, while the development was first reported by ET. Rajan will be based out of Bangalore. Prior to joining Paytm, Rajan worked as the head of mobile business at Myntra for 1.5 years where he looked after Myntra’s growth revenue on mobile. Before that, he co-founded Easy2commute in 2009 and continues to work there.
Rajan also worked as a product manager at Flipkart for over 2 years, before which he was with Paytm as the founder and head of the commerce business for over 3 years. He has worked with PricewaterhouseCoopers for about 3.5 years, as a business consultant with Keane Consulting Group for about 2 years and as an associate software engineer at ST Microelectronics for a year.
Hotel bookings, entertainment tickets: In October, Paytm launched hotel bookings on its Android and iOS apps, where it offered 20,000 hotel listings across the country in the first rollout phase. Paytm said it would enter the hyperlocal services vertical, starting with food ordering, table bookings, cinema tickets and deals in the user’s neighbourhood. In September, the company had also said that it would add movie and entertainment tickets on its platform.
QR payments: In the same month, Paytm launched QR code based payments in the Paytm Wallet app, which could be used by shopkeepers or service providers in order to accept digital payments. Users could also pay via the Wallet app. The QR code would contain Paytm account details of the merchants, while the buyer only has to enter the payment amount and approve the payment.
Funding: In September, Paytm raised an undisclosed amount in a fresh round of funding from Alibaba and Ant Financial. The Alibaba Group would reportedly pick up about 20% stake in Paytm for about $680 million which will see Ant Financial’s stake lowered to 20%. The company said it would use the funds for developing technology, hiring, expanding operations and marketing.
100 million users: In August, Paytm claimed to have crossed 100 million users in the country, while carrying out over 75 million transactions per month. Earlier in July, Paytm also started offering industrial supplies on its platform including hand tools, power tools, safety and security equipment, test & measurement apparatuses, machines, lab supplies, abrasives etc.
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