May 16: One97 Communications, the parent company of payments app Paytm, said that over 38 million tickets were booked collectively by users using the app in FY18. It includes tickets booked for travel using buses, flights, and trains across the country.
Further details include the share of revenue generated with the ticket booking service weren’t revealed by the company. According to the details available, around 85% of the ticket bookings were carried out through the app. Paytm is also foreseeing a big jump in ticket booking, with the company eyeing a two-fold growth in the ticket volumes by the end of FY19.
Currently, Paytm is selling around 4 million tickets on an average, but has set a goal of selling 10 million monthly tickets through Paytm in the near future. The company is expecting to double the figures by March 2019.
Notably, Paytm has registered 60 percent growth over the past year from tier-II and III cities, reflecting a rapid adoption of online travel services among smaller cities. Services like free cancellation and low fares have helped Paytm to penetrate deeply into the non-metro cities. Paytm said that its constant addressing of customer needs has helped it gain grounds among the low-tier cities.
Reports quoted Abishek Rajan, Vice President, Paytm, as saying that the company believes that its focus on solving customer needs and creating disruptive product experiences has played a crucial role in offering the confidence to book their travel online.
Paytm stepped in to ticket booking space two years ago, and ever since, the company has registered a steady growth in the tickets department. In the period, it has emerged as IRCTC’s largest reseller of train tickets after becoming the first payment aggregator to tie up with IRCTC. Alongside, it’s also the second largest player for bus tickets, and among the top three players in the flight ticket space.