Paytm’s Latest Moves in Travel – India Report
Photo Credit: The fintech company often refers to itself as an online travel agency. Pixabay / Edeltravel_
Skift Take
Paytm is a major fintech player in India and has a strong user base in smaller towns of India. This user base gives it a slight advantage over other OTAs.
Paytm started as a financial services company in India, but is now diversifying its revenue streams, with a special focus on travel. The fintech company often refers to itself as an online travel agency and is looking at travel as a core business segment.
In the latest move to enhance its travel offerings, Paytm has entered into a strategic partnership with German intercity bus services company FlixBus, which entered India in February this year.
Becoming an OTA? Officially, Paytm is still a "mobile payments and financial services distribution company," with a mission to bring 500 million Indians to the mainstream economy using technology.
However, after its payments bank (which overlooked the payments wallet, customer accounts, and fixed deposits) was closed earlier this year by India's central bank, the Reserve Bank of India, the fintech player has been looking at alternative sources of revenue, with travel being one of them.
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