Paytm is looking to make its next billion dollars in travelling and movie ticketing business
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In terms of annualised revenue, Paytm’s phone recharge, utility bill payment and online retail arms are already billion-dollar businesses. The company is now hoping that its new segments to do well in the market.
Meanwhile, Paytm is also pushing its online-to-online (O2O) business-which accounts for 20% of its business, so it can achieve $1 billion in annualised revenue by incentivising users to pay at fuel stations and corner stores via its digital wallet.
"The best thing that we can do is capture as many markets, and the dumbest thing we could do is spread ourselves too thin," founder
The phone recharge unit accounts for another 20% and the online marketplace, 40%. Remaining sales come through Paytm's tie-ups with large third-party merchants, including Uber and rail-ticketing platform IRCTC.
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Paytm is looking forward to woo customers with attractive cashback schemes to acquire customers, replicating
The new businesses are part of an integrated financial-technology play for Paytm and will not be standalone units, said
"This is not to get into new revenue streams but to create a holistic ecosystem for themselves. Travel booking is already hyper-competitive, but by being part of these transactions they are able to get a good grip on the whole online payments ecosystem," Kumar told ET.
(image: Indiatimes)
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