Paytm, as promised teamed up with Inox Leisure to sell movie tickets. Paytm hinted earlier that it might go for other financial options apart from recharge and e-retail. The plan of introducing Paytm Bank drafted afew months ago.
The share price of Inox Leisure Pvt. Ltd has soared up to 5% once the news hit the share markets. Paytm, which is the first company that provides India’s first mobile wallet service, planned to go for something big, bigger than just an online recharge app.
With a new update to Paytm app, users will be able to book movie tickets directly from the app using their Paytm balance or net banking. Currently, the market leader Book my show is holding over 60% market share where more than 70% revenue comes from ticket selling.
If you want to book a movie ticket, tap on the left-top where all the options hide. There you will find book movie tickets. Then the rest is easy, and you can do without any tutorial.
Paytm is teaming up with Cinepolis and PVR to do the same. No doubt that Paytm will eat a significant share of Bookmyshow as people will not be interested in installing two apps while a single app can do many things like recharge, movie ticket booking, shopping, etc.
Paytm started its journey with recharge only app, then gradually it introduced its ecommerce section which comes as a built-in shopping site within the app now. In the last monthVijay Shekhar Sharma, co-founder of One97 announced that paytmwould increase its wings in more sections to expand its business.