PayTM has announced that over 10mn travel tickets were booked on the company’s platform; Over $500mn in annualized GMV. The company has claims to have emerged as India’s biggest private B2C player in train tickets segment within months of launch.
NEW DELHI: PayTM’s online rail booking platform is doing more ticket bookings than any other private online B2C player in India, second only to the IRCTC (Indian Railway Catering and Tourism Corporation) official website.
The company launched online train ticket bookings in partnership with IRCTC in September this year to complete the full range of air, road and rail booking solutions available on PayTM.
While the PayTM Wallet is accepted on the IRCTC platform, the company also powers the payment gateway on IRCTC’s App.
Given that over 30 million Indians use the Indian Railways to travel every day, this move will play a major role in making cashless transactions a way of life across all geographies and demographic profiles in India.
“We are thrilled to partner with IRCTC for online rail bookings and bring the trusted PayTM experience to India’s single largest group of travelers. We are encouraged by the response received for rail ticket bookings on PayTM App. Emerging as the country’s biggest private B2C player in online rail ticket bookings is a big step towards our goal of building India’s largest travel ticketing platform,” said VP PayTM, Abhishek Rajan.
PayTM is the first horizontal e-commerce major to enter into Travel business, a domain that has hitherto been dominated by vertical players. The company has chosen Bengaluru as the base of operations for its Travel Marketplace.