India’s mobile payments company Paytm and Chinese gaming and entertainment company AGTech Holdings have announced their joint venture last year for a gaming platform. Now they have announced a mobile gaming platform Gamepind that will offer games along with rewards to users.
Gamepind will be available as an independent app but Paytm app will also make it available. The game brings apps in different categories including casual games, contests, and sports games. Users will also get rewards for playing and winning games.
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Paytm has also planned a section to offer coupons that will help merchants to engage with mobile shoppers and casual gamers. This could also help in monetising the app and give advertisers an option to promote their products.
Paytm holds 55% share in this joint venture and AGTech has a 45%. It will also be the first strategic international expansion of AGTech and will surely help the company in getting its foot in Indian market. The company has authorised share capital of $6 Mn and will get further investments of $8.8 Mn and $7.2 Mn investments from Paytm and AGTech Media respectively.
It is worth to note that AGTech Media is the wholly-owned subsidiary of AGTech Holdings that is further owned by Alibaba Group company. Alibaba Group is also a major investor in Paytm.