Paytm’s Mobile Wallet Will Soon Be Accepted at Café Coffee Day, Domino’s and More
After stepping in the e-commerce market, Paytm is geared to diversify into the offline space. The digital recharge start-up has partnered with thousands of quick service restaurants (QSRs) in major cities of India to provide cash-less service in the next two months. By stepping in offline retail business, the mobile recharge service will offer customers a choice to pay through their secure platform without the need to carry cash.
The Vice-President (Business) of Paytm Amit Lakhotia stated on the same –
We are now foraying into the offline space. We have partnered various QSRs covering 7,000-10,000 outlets in cities like Delhi, Mumbai, Bangalore and Hyderabad.
He further added that the service should be available by mid-June. Some of the restaurants that have joined hands with Paytm include top food chains like Café Coffee Day (CCD) and Domino’s. The company is planning to add more more restaurants where their Paytm Wallet can be functional.
Lakhotia stated on the growing acceptance of their virtual wallet application, “Mobile wallet usage is definitely growing in the country. On our platform alone, about 66 million people are using the wallet services and the number will cross 100 million much before the year ends.”
The company commenced the Paytm Wallet app with its debut in e-commerce space. Paytm wallet allows users to transfer money within the wallets. The app offers users to transfer money to a bank account from the wallet so that they can cash out the required amount.
Paytm expects to observe a steep increase in revenue by the year end. Right now, its revenue rate is $1.5 billion, but it is expected to multiply more than double to $4 billion by end-2015.
Meanwhile, Paytm provides its services to the online services like Uber, BookMyShow, eBay and IRCTC.