Paytm, a web and mobile recharge platform for prepaid recharges and postpaid bill payments has integrated the Paytm Wallet with online merchant sites like Homeshop18, makemytrip, Bookmyshow and Naaptol amongst several others.
The integration facilitates online transactions for 12 million Paytm users across the country.
Mr. Amit Lakhotia, VP – Business, Paytm said, “We are committed to provide our customers with maximum convenience by making online payments across sites more seamless and secure. The integration of our Paytm Wallet with these top merchant sites reflects our commitment to do so.”
The RBI-approved Paytm Wallet allows customers to store money in a secure virtual wallet on Paytm and use this credit for transactions on Paytm. The integration with other merchant sites goes a step further and enables shopping and payments directly on other portals as well.
Buyers can use their Paytm Wallet at any one of the partner websites and make payments with increased convenience. Using the Paytm Wallet, it eliminates the need to repeatedly enter one’s sensitive financial details. By adding money to their Paytm Wallets as a one time exercise, users can pay at any of the online destinations directly.
Launched about a year ago and achieved 10 million orders in July including mobile recharges, tickets and shopping deals. The company managed 10 million mobile wallet users with in six month of launch. It is in talks with Asian private equity firms to raise around USD 350 million for technology development, logistics expansion and to build mobile operations.
Also, the company plans to develop a platform for aggregating courier companies to ensure deliveries to all 36,000 pin code zones in India. At present, only 5,000-7,000 pin code areas in the country are covered by ecommerce retailers.
It also wants to have a larger catalogue for users, with same-day delivery in metros and top cities. The company is raising its head count by 1,000 this year to 1,400 and aims to expand its operations in Delhi and Bangalore.