Online Digital Payment Platform Paytm has announced that they have clocked the booking of over 1 million train tickets in a month and has become India’s largest platform for train tickets booking after IRCTC. With the user’s friendly UI, about 90% of the train ticket bookings on the platform are done via mobile.
Paytm has partnered with IRCTC in October 2016 and is expecting to clock over3X growth in the number of train tickets booked through its platform by this financial year.
Commenting on the development, Abhishek Rajan, Vice President, Paytm said, “Our partnership with IRCTC is a major leap towards bringing the trusted and convenient Paytm experience to train tickets booking. Emerging as the country’s largest platform in train ticket bookings is a definitive step towards our goal of building the country’s largest travel booking platform.”
The Alibaba-backed startup has witnessed an exponential growth in travel departments which includes Train, Buses and Flights bookings. Paytm claims that more than 10 million tickets sold in FY17 through their platform.
In recent times, Paytm is in a process of expanding its operations under which it plans to scale up its travel marketplace team of 150+ members to 250 members in next two-quarters and aiming to be countries largest destination for travel booking platform.
According to a report by Anarca Research, the online travel in India was expected the growth of 17.8% during 2013-2016, outperforming the overall travel market by 6.0%. However, the online booking platform is estimated to increase from 41% in 2014 to 46% by the end of 2017. Read more about Indian Startup Ecosystem.