Expanding its digital payment realm further and looking to further push its already aggressive ongoing campaign of increasing its offline presence, Paytm is now venturing into movie ticketing business- which is predominately held by BookMyShow.com.
Paytm plans to strengthen the offline business and will allow its users to pay for food and other value-added services through their mobile wallet once they reach the movie hall. It will offer cashback deals on ticketing to attract customers to book through its platform.
“We will use movie tickets as an anchor to expand our offline reach,” said Vijay Shekhar Sharma, CEO of Paytm.
With Paytm having its wallet system and offering gamut of services, it will most likely disrupt the monopoly held by Bookmyshow in the movie ticketing market- which offers only ticketing service.
Paytm which is already gearing up to launch its own payment bank, which would require additional capital, has this week taken a loan of around Rs 300 crore from ICICI bank.