Paytm, the digital payments and financial services company owned by One 97 Communications, is making significant strides in its travel segment. The company recently announced partnerships with renowned travel aggregators such as Skyscanner, GoogleFlights, and Wego. Additionally, Paytm plans to collaborate with international aggregators, including Cambodia Angkor Air, SalamAir, and FlyDubai. The disclosure, filed under regulation 30 of SEBI, highlights Paytm’s commitment to expanding its travel offerings.
Notably, Paytm has witnessed a 19% increase in the number of passengers and a 15% year-on-year growth in international ticket bookings. The recent NDC (New Distribution Capability) integration with Amadeus further strengthens its position. This integration features airlines like Singapore Airlines, Qatar Airways, and Eva Airways.
Despite regulatory challenges earlier this year, including restrictions imposed by the Reserve Bank of India (RBI) on Paytm Payments Bank Ltd, the company remains resilient. The RBI’s order prohibited further deposits, credit transactions, and top-ups for road toll payments after February 29 due to money laundering concerns. However, Paytm continues to innovate and diversify its offerings.
In addition to its travel endeavors, Paytm is in discussions with Zomato regarding the sale of its movies and ticketing business.
A Paytm spokesperson emphasized the company’s commitment to customer experience. “Our partnerships with global travel aggregators and leading airlines, combined with AI integration, underscore our dedication to providing seamless, convenient, and competitive travel solutions. As we grow, our goal remains to deliver exceptional value and an unparalleled travel experience to our customers.”
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