Paytm Partners with PVR and INOX to Advance into Movie-Ticketing Business #OfflinePush
BookMyShow (BMS) has been practically the only service around to book your movie tickets in India. A few other players tried to enter the space but the monopoly destroyed them. However, there is nothing that can stop Paytm.
Aiming to disrupt the movie-ticketing business, Paytm has taken their first step in this space by partnering with two cinema chains – PVR cinemas and INOX.
In September of last year, we had reported that Paytm will soon launch an online movie, event ticketing marketplace – partnership with PVR Cinemas and INOX confirms the development
This will not only give Paytm presence in this business, but also provide movie-lovers another platform to choose their tickets from. Having another option for users means more competition, which would result in competitive discounts and pricing by both the giants.
Talking about the initiative, Vijay Shekhar Sharma, Founder & CEO – Paytm, said, “We will use movie tickets as an anchor to expand our offline reach.”
Paytm’s Main Objective
While people might think Paytm is solely getting into the business to sell movie tickets and have a presence here as well, it is quite far from truth. Paytm has always been there, partnering with BookMyShow to offer discounts to its users transacting through Paytm wallet.
The main motive of Paytm is actually to increase its digital wallet penetration amongst movie-goers. Digital Wallet users will also be able to pay for refreshments and food items at the movie halls, further strengthening their offline wallet push.
“This year, we will be present offline in every nook and corner. Our offline payments will become as big as our online payments,” Vijay Shekhar Sharma said about the digital wallet acceptance at cinema halls.
How it will help the common man?
While other countries like US, UK, France, Germany and Singapore have moved towards cashless payments through NFC technology, Indian Government is pushing towards digital payments, which effectively solve most problems related to money laundering, fraud and black money being stored by corrupt citizens.
However, Paytm is going a step ahead to make it easier for you. You can also pay at offline stores through their online wallet. You can top-up your digital wallet through credit card, debit card or netbanking and that will be all that you need for your payments.
What you will notice is that cash will not be needed at all and will make your overall experience a lot smoother. Merchants will be getting code-generating machines which can be scanned on your smartphone and money will be deducted automatically. The merchants can’t charge you extra, so you won’t have to worry about your money.
Paytm is getting more aggressive with its offline model and tends to book over 4 Million merchants by this year end. The market is huge and untapped as of now, but digital wallets are going to fill-up this space soon.
Read about other offline initiatives from Paytm: