Mumbai: Paytm users can now book metro tickets through their wallet. Alibaba-backed Paytm, has tied up with Mumbai Metro for online recharges and ticketing, according to sources.
Paytm, which launched a bus ticket marketplace, is betting big on the domestic and intra-city travel segment. It plans to tie-up with Delhi, Bangalore and Chennai metro soon. Paytm did not wish to comment on the development.
According to the Internet and Mobile Association of India, India’s online travel market was estimated to be worth over $8 billion in 2014 and likely to register an exponential growth in the current year. Also, the country is witnessing a tremendous growth in the middle class with a growing disposable income.
Noida-headquartered Paytm, founded by Vijay Shekhar Sharma, wants to be a one-stop destination for consumers to fulfil their daily needs. It is entering new categories every month to grow its gross merchandise value to $3-4 billion (₹19,000-25,500 crore) by the end of 2015, according to the company.
As the marketplace expands to encompass hotels and travel agents, service providers will be able to put up their inventory with a do-it-yourself platform provided by Paytm.
Paytm, part of One97 Communications, recently said that its wallet is now accepted by over 80,000 merchants, and it plans to reach the 10-million merchants mark by the end of next year.