A Delhi NCR based electronic payment company Paytm is planning to expand its business in India, trying to treble the monthly sales of air, railroad or transport tickets over the portable stage before FY18 comes close.
Paytm targets travel business
“Paytm is targeting a three-time growth in its travel business this year, plans to sell 10 million monthly tickets-up from about 3 million now-across the three modes of transport” said Abhishek Rajan, vice president of companies travel unit”.
He further said that “Travel is a new vertical within Paytm. We have started working on it last year. We launched flight bookings in June or July last year and train tickets in October. For trains, we have already become IRCTC’s biggest agent for online train tickets. We have the highest volume among all agents that sell train tickets offline and online”
Paytm’s travel business crosses $500 million
In January this year, Paytm’s travel business crossed $500 million annualized GMV run rate through two million tickets set up for the stage that month. The organization is focusing on $2 billion annualized GMV run rate by March 2018.
“We hope to close the $1 billion mark next month. In the next 12 months, we are looking to become the largest player for booking tickets” Rajan said.