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Thursday, 25 May, 2017, 14 : 00 PM [IST]

Paytm mulls foray in to hospitality & travel industry

As per a report in TOI, on the back of raising USD 1.4 billion from Soft- Bank, Paytm is making aggressive moves to challenge existing players in verticals like movie ticketing, travel and hotels with the help of deep discounts. The payments firm has also transferred a Senior Executive, Nitin Misra, who was head of products for its core payments business, to lead the hotels and packages segment. Misra is in active discussions with stakeholders in the online hotel business, including internet-based startups in the hospitality space, multiple people aware of the development said.

These businesses are being allocated bigger budgets, which will be largely used for discounting and marketing to garner shares. Paytm has been using cash-backs and discounting to get a footprint into the travel and movie ticketing sector.

A Paytm spokesperson confirmed the new role of Misra in the company. “After two years as head of payment products, Misra is now looking forward to setting up the hotels and packages vertical in Paytm,” the spokesperson said. Sources aware of the company’s plans pointed out Paytm wants to aggressively penetrate these new businesses as it would also mean higher volumes of transactions on the platform.
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