In recent months, Paytm has seen exponential growth in its Travel Marketplace. Its bus tickets business recently turned break-even while the Hotels booking category is expected to start generating profits very soon. The Flights booking service on Paytm has been growing at 4x rate month-on- month since its launch in May. In line with its vision to build the country’s largest travel booking destination, the company has now launched online train ticket bookings in partnership with IRCTC.
Speaking on the partnership, Abhishek Rajan, Vice President, Paytm said, “At Paytm, our endeavor is to solve for every need of a traveller. Our alliance with IRCTC is a major leap as it completes the spectrum of air, road and rail ticket booking solutions available on Paytm. This is a significant milestone in our efforts to build India's largest travel marketplace.”
The Indian travel market has seen exponential growth over the past many years. The Indian travel market is estimated to be worth $40 billion by 2020, according to an IBEF study. Paytm is determined to leverage the power of mobile to fuel this growth.