Alibaba-backed, Paytm forays into travel industry with the launch of its new Bus Ticket Marketplace. The company has brought four travel aggregators on board to incorporate all bus routes on its system.
This launch is a part of Paytm’s strategy to enter as many new segments, to grow its gross merchandise value ( GMV) to $3-4 Bn by the year end.
Paytm Founder, Vijay Shekhar Sharma, said in a statement, “The online travel category in India was estimated to be worth over $8 billion in 2014. We want to tap into this potential to give an enhanced experience to our users while booking their bus tickets. Going forward, we also plan to start signing up hotels and travel agents on the platform.”
Related Article: Paytm Expects Revenue Of Over $77 Mn With Its Foray In Hotel Booking
Company’s expansion into hotels and travel agents will have live inventory for the service providers to update using do-it-yourself platfrom provided by Paytm. All these services will be made available for the consumers through Paytm app.
One97’s mobile commerce brand, Paytm initally started as a mobile recharge and wallet app in 2010. Then it entered into ecommerce in early 2015 with an aim to make Paytm a $100Bn company
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