Paytm has expanded its digital payment business into movie ticket dimension. Paytm has partnered with India’s biggest multiplex chains PVR Cinemas and INOX for booking movie tickets direct from Paytm. Paytm will directly compete with BookMyShow, which is practically the only service for movie ticket booking.
Rumours about this partnership were also reported back in September last year. It took around seven months to finalize the deal and announce it officially. This is another step towards the expanding offline reach.
Paytm CEO Vijay Shekhar Sharma said,
We will use movie tickets as an anchor to expand our offline reach.
BookMyShow has been providing users good service for past few years and users have no other option. Paytm’s entry can hurt because of its cash back offers. If Paytm comes with cash back offers in movie tickets, it will surely hurt BookMyShow.
It is worth to mention that Paytm was already in this business indirectly by offering discounts on BookMyShow ticker bookings. Now, it has come in the direct fight to expand its business and streangtheing offline reach.
We already know that Paytm is working to bring its bank and open offline stores where people will be able to recharge their Paytm wallet. This wallet can be used to pay for online and offline everywhere. With this, Paytm wants transcations to be cashless. It will take few more years, but slowly we are going in right direction.
