Paytm To Venture Into Travel Business
After being in the news for selling a stake in its company to e-commerce giant Alibaba, The digital e-wallet company, Paytm, currently, the number one digital e-wallet firm in India has planned to hire new expertise for their travel vertical to expand its business. Paytm specialises in offering online tickets for buses, hotel bookings, trains, flights.
The plan to hire more people came only because of the great growth that Paytm is experiencing in their travel vertical in Bangalore office. According to a report from The Hindu, Paytm has broken the records on Sunday when it reached over 10 million ticket bookings. Further, Paytm also mentioned, they have reached a gross merchandise value (GMV) of up to $500 million for the month of January 2017.
Paytm is very keen on expanding its branches in the online travel market. The main vision of Paytm is to make sure that it becomes a one-stop destination for all the travel enthusiasts. They are very clear on reaching on a rapid increase towards the end of the year. As a sign of their growth, they are currently looking forward to hiring new officials in Bangalore in all the departments of Business Functions, Operations and Technology. Paytm had recently made a detailed plan to capture 1 Crore-offline Sellers To Its Net With QR Code For Payments.
The company is also making some strategic moves by investing up to Rs 300 Crore for the travel vertical. They are sooner going to make a great impact on the travel business. With the kind of growth it is having right now; if they move at the same pace, in no time, they would achieve greater profits and $1000 million looks reasonably achievable until the end of February 2017.