Paytm, India’s largest m-commerce company has launched financial services payment feature – You can now pay premiums for your insurance and Gold Loans. To offer this, Paytm has tied up with ICICI Prudential Life, Reliance Life and Religare. You can also pay your premiums on Gold Loans availed from Mannapuram Finance.
Paytm will soon have over 15 Financial companies on board as the partnerships are currently underway.
Currently 3 companies are live on their platform and few more will be made live in the next week.
Over last couple of months Paytm has been aggressively expanding – vertically as well as horizontally. Here are a few announcements they have made over last couple of months.
Paytm Hotel Bookings: Paytm has started offering hotel bookings on its platform in partnership with third party players like Goibibo, Ezeego1, Via and TSI-Yatra. Currently, they have local agencies, but soon they are planning to get into international hotel bookings in partnership with leading global platforms like Expedia and Booking.com.
Paytm Hyperlocal Business: Paytm has entered into hyperlocal space with focus on food ordering, table booking, cinema tickets, and deals in the neighborhood. To offer these services, it has entered into partnerships with leading companies including BookMyShow and Zomato amongst others for successful delivery of its hyperlocal services.
Paytm Movie/Event Ticketing: Paytm has launched a entertainment ticketing marketplace on its platform. They are more of on aggregator, where anyone can come and offer their tickets online. It will operate as a marketplace where a multiplex or theatre will be the seller.
Paytm Wallet in Education Space: Paytm has introduced cashless payments specifically for educational institutions in India. With this service, Users can pay school fees & dues, cafeteria bills as well as buy uniforms, books and merchandise through the Paytm Wallet.
Apart from this Paytm also announced various other initiatives over last few week that include Cashless offline payment facility for Shopkeepers, Kirana stores or even a cab driver.