In a move to further firm their feet in the digital payment space in India, Paytm has entered into a strategic partnership with Pizza Hut, Costa Coffee & Vaango.
Since its inception in 2010, Paytm has proved to be one of the front-runners in digital payment solutions. The Paytm wallet was launched in 2014. Founded by Vijay Shekhar Sharma and owned by One97 communications, the Delhi-based company has initiated a lot of innovations along with forging successful partnerships with big brands. And, it order to keep the flag of success waving, Paytm has entered into a partnership with Pizza Hut, Costa Coffee & Vaango. The move is initiated to focus on the premier fast food chain of restaurants in the country. The association would now enable the users to pay at these outlets via Paytm wallet. Many digital payment providers are now looking to expand their operations across the brick and mortar stores. Hybrid payment marketing or the merger of online and offline payments has been touted as one of the trends to watch out for in the coming years. With more than 200 merchants at their disposal, Paytm is India’s largest payment solution provider through its mobile wallet. The big clients in their kitty include Uber, IRCTC, Zomato, Food Panda, Makemytrip and many more.
With already clocking more than 72 million orders per month, the latest partnership is bound to provide greener pastures for Paytm in near future. Along with being synonymous with Mobile and DTH recharging, Paytm has already added bus travel booking to its operations. The success of Paytm is pretty visible and they have also been involved in sports promotion recently. In August 2015, Paytm clinched the title sponsorship rights for all international and domestic, bilateral cricket tourneys to be hosted by BCCI for a period of 4 years. The sponsorship deal amounts to INR 203 crore (US$32 million). The payment solution provider has also been an active spender during the Indian Premier League. The newly forged partnership with Pizza Hut, Costa Coffee & Vaango will further expand their reach amongst the Indian & global customers alike.
The driving force of investors behind Paytm include Ant Financials (AliPay), SAIF Partners, Sapphire Venture and Silicon Valley Bank. Speaking about the partnership, Amit Lakhotia, VP, Paytm said, “Being the leading player in the mobile wallet domain, we are constantly endeavoring to give our customers more use cases for the wallet. By partnering with KFC and Pizza Hut, our customer base will be able to use the mobile wallet conveniently across these outlets in lieu of cash. Our mission is to make the Paytm Wallet the chosen mode for all offline and online payments in India.” Ankit Ghai, National Head – Strategic Alliances & Partnership, Devyani International Ltd. also spoke about the partnership, “We are thrilled to partner with India’s largest digital wallet. Through this association with Paytm, we can now offer our customers the convenience of paying with a single touch on their mobile devices. This move will facilitate faster payments at our outlets across the country.”