PhonePe customers can now books rooms on Oyo from the PhonePe app, after paying a token amount of Rs 100 and paying the balance at the hotel. PhonePe already has similar tie-ups with other merchants like redBus, Goibibo, Ola and Metro services in Delhi and Mumbai.
Oyo now claims to have over 125,000 exclusive rooms across 160 cities in India. Earlier this week, Oyo signed a Rs 500 crore deal with the Uttarakhand government to add 35,000 rooms in the state. The hotel aggregator raised $800 million to invest in its China offerings and expansion.
PhonePe claims to have over 100 million users. It also claimed to have processed 2 million transactions in offline organized outlets in August. The company claimed to have shown a 20x growth in payment transactions in the preceding 6 months.
In August, Flipkart Payments, the Singapore-based subsidiary of the e-commerce giant infused Rs 451.66 crore into its payments company PhonePe. PhonePe allocated over 21.4 lakh shares to Flipkart Payments for the fresh round of capital infusion. PhonePe is expected to use these funds to take on its rivals in the payments sphere- SoftBank backed Paytm and Google’s Tez.
Our PhonePe coverage here.