Paytm Now To Expand Hotels, Movies And Travel Bookings
The Softbank’s huge funding of $1.4 billion in Paytm is now helping the digital e-wallet company to spread its wings across other categories of online booking. The company is now keen on developing potential technology and resources in the various segments of travel, movies and hotels bookings. They are going to offer a completely new range of discounted coupons and other fantastic deals on the new segments. Other competitors in the market space right now who are offering online ticketing are Bookmyshow, Makemytrip and Cleartrip remain on the top of the list.
The new segments of hotels and online ticketing would be individually managed by Senior Executive Nitin Misra who was handling the operations for the basic payments business. Paytm is now in talks with several investors who are ready to provide funds in order to expand the businesses in the new segments. It is keen on achieving profits of upto $1 billion from the newer set of businesses and they would be rolling out massive discounts and deals to promote the new segments. However, seeing the way Paytm is now expanding its business, the other provider Makemytrip is also raising many funds. With its recent funding of $330 million, it would give Paytm a tougher competition in the future.
Paytm started as an E-commerce player offering different products for sale and it was competing with other rivals such as Flipkart, Amazon and Snapdeal. Later, the company started offering online recharge services for the users. Each time Paytm took a decision of expanding their business, it was worked wonders for them. With this new strategic move of expanding the Travel and Hotels bookings will transform the company and it would be the one- stop destination for all the online users. Paytm would now aggressively promote their new offerings and make sure that the users are all aware of the recent introductions.