Paytm has extended its offline tieups and has partnered with movie theater chain Cinepolis and dairy company Mother Dairy.
For Cinepolis, Paytm users can book their movie tickets with over 236 screens the company operates, as indicated by this IndianTelevision report. In March 2016, Paytm also partnered with PVR Cinemas and INOX for movies tickets. The new initiative will also let users pay for food and other value-added services through their Paytm wallet.
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.
With this, Paytm has covered all the major movie theater chains in the country and could pose as competitor to BookMyShow, till now the only leading player in the ticketing space.
For Mother Diary, users will now be able to make cashless payments through their Paytm wallets across 100+ Mother Dairy milk booths.
Other recent offline deals include:
– 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.
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.
For the financial year 2014-15, Paytm parent One97 Communications, reported revenues of Rs 336.9 crore, a growth of 60.47%, from the year before. Losses, however, increased to Rs 372.01 crore from a profit of 5.68 crore last year. Total expenditures increased exponentially to Rs 674.42 crore from Rs 179.85 crore in the previous year.
In September 2015, Paytm 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%.