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Paytm ties up with INOX & PVR to facilitate movie ticket booking

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Paytm has partnered with PVR, INOX and other unnamed cinema houses to sell movie tickets on its platform, reports Economic Times. The new initiative will also let users pay for food and other value-added services through their Paytm wallet, adds the report.

Paytm had announced that it would launch movie ticketing in September last year. At that time it had also said that Reliance owned Bookmyshow, the biggest player in the entertainment ticketing industry would also be able to list as a seller on Paytm’s ticketing platform. PVR has 370 screens in 75 multiplexes in 33 cities, and has already tied with Paytm for its wallet services.

The online movie-ticketing sector has been largely dominated by BookMyShow; which also offers event-bookings (concerts, conferences). Paytm also offers an event booking facility for a select number of events, but not as wide-ranged like BookMyShow. Note that in July 2013, BookMyShow had entered into a 5 year strategic partnership with PVR, targeting Rs 1,000 crore of ticket sales over the 5 year period, exclusively on the BMS platform.

In August 2015, Paytm announced that it had crossed 100 million users, was carrying out 75 million transactions every month and its wallet was accepted by over 80,000 merchants across the country.

In February, Paytm, in a push to widen its offline reach, announced three other offline initiatives:

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– It tied up with Indian Oil (IOCL) to let users pay for vehicle fuel at petrol pumps through Paytm wallets in Delhi.

-It also struck a deal with Aditya Birla Retail, which runs the supermarket chain “More”, to enable its customers to make payments across its stores.

-Paytm tied up with offline players in the mobile and electronic appliances sector and enabling them to list their stores on its e-commerce marketplace.

Delhi Metro-card recharge: Earlier this month, Paytm said that Delhi Metro users can recharge their metro cards via Paytm wallet. Earlier, it also allowed Mumbai metro users to recharge their travel card through their Paytm wallet.

QR-based payments: In October 2015. Paytm launched QR code based payments in its wallet app, which can be used by shopkeepers or service providers in order to accept digital payments.

Funding: In September 2015, Payrm raised an undisclosed amount in a fresh round of funding from Alibaba and Ant Financial. The Alibaba Group also picked up about 20% stake in Paytm for about $680 million, which will see Ant Financial’s stake lowered to 20%.

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Also read: Vijay Shekhar Sharma’s Reddit AMA: Dominance is Paytm’s short term aim, not profits

Our Paytm coverage here.

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