Paytm expands Travel Market Share with Global Travel Partnerships and Robust Travel Solutions

One 97 Communications Limited (OCL) that owns the brand Paytm, India's leading payments and financial services company and the pioneer of QR and mobile payments, has announced significant growth in its travel segment, driven by partnerships and innovative travel solutions. The company has partnered with leading global travel aggregators such as Skyscanner, Google Flights, and Wego, reinforcing its commitment to offering comprehensive and seamless travel services to customers.

In Q4'24, Paytm maintained its upward trajectory in market share among OTAs, with flight bookings showing a notable year-on-year increase of ~19%, surpassing the industry's growth rate of around ~3%. This growth is further underscored by a ~15% year-on-year rise in international ticket bookings in April, showcasing Paytm Travel as the preferred destination for competitive prices and seamless services in travel bookings. This highlights the trust and confidence customers place in Paytm for their travel needs.

As the second-largest OTA in train bookings, Paytm continues to enhance customer experience with new features such as guaranteed seat assistance, and easy tatkal bookings, making train travel more convenient and accessible for all users. Paytm has also witnessed growing preference among travelers, including those from small cities and towns, for their commuting needs.

The recent NDC integration with Amadeus, featuring Singapore Airlines and Qatar Airways as the first two airlines on NDCx and on-boarding of Eva Airways, marks a significant milestone. This integration offers artificial intelligence-powered capabilities, enhancing the booking experience by providing more tailored travel options and packages directly from the airlines.

To provide further selection to international flyers, Paytm Travel has also onboarded three new carriers including Cambodia Angkor Air, SalamAir, and FlyDubai.

The platform now hosts new bus operators including Mettur expanding its service offerings and providing more travel options to customers. The introduction of a Free Cancellation service has seen high growth in trains and buses, followed by flights, offering customers greater flexibility and peace of mind.

Paytm spokesperson said, "We are committed to expanding our travel business offerings and enhancing the overall customer experience. Our partnerships with global travel aggregators and leading airlines, combined with the integration of artificial intelligence, underscore our dedication to providing seamless, convenient, and competitive travel solutions. As we continue to innovate and grow, we aim to deliver exceptional value and a superior travel experience to our customers."

With these advancements, Paytm continues to revolutionise the travel industry by combining convenience, comprehensive solutions, and innovative features, thereby driving growth and expansion in the travel market. This aligns with Paytm's broader vision of leveraging advanced technology to enhance business operations and customer satisfaction across its diverse service offerings.

Source : Equity Bulls

Keywords

One97Communications Paytm TravelSolutions TravelPartnerships