Fintech

Paytm Expands International Flight Ticketing with Strategic Partnerships

• ByStartupStory     |    June 25, 2024

One 97 Communications Limited (OCL), the parent company of Paytm, has announced significant growth in its travel segment, bolstered by new partnerships with global travel aggregators such as Skyscanner, Google Flights, and Wego. This strategic expansion is aimed at enhancing Paytm’s offerings in international flight ticketing.

In addition to its collaboration with major travel aggregators, Paytm has also onboarded several international airlines, including Cambodia Angkor Air, Oman-based SalamAir, and FlyDubai. These partnerships are expected to provide a broader selection of options for international travelers using Paytm’s platform.

As the second-largest Online Travel Agency (OTA) in train bookings, Paytm continues to innovate in the travel sector by enhancing customer experience. Notable features include guaranteed seat assistance and easy tatkal bookings, which make train travel more convenient and accessible for users. Furthermore, the introduction of a free cancellation service has driven high growth in train and bus bookings, followed closely by flights.

“We are committed to expand our travel business offerings and enhancing the overall customer experience. Our partnership 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,” a Paytm spokesperson said.

In the fourth quarter of 2024, Paytm reported a 19% growth in flight bookings, with international ticket bookings experiencing a nearly 15% rise year-on-year in April. These figures reflect a robust increase in international tourism, with preliminary estimates from the United Nations World Tourism Organisation indicating that international tourism receipts reached $1.4 trillion in 2023.

In related news, food delivery unicorn Zomato recently disclosed that it is in discussions with Paytm to acquire its movies and ticketing business. Zomato stated in a regulatory filing, “The above discussion is being undertaken with an intent to further strengthen our going-out business and is in line with our stated position of focusing only on our four key businesses currently.”

Paytm’s parent company, One97 Communications Limited, echoed this sentiment, noting, “The company routinely explores various strategic opportunities aimed at enhancing shareholder value. The potential transfer of Paytm’s entertainment business, a component of our marketing services, is one opportunity under consideration.”

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