On the track of capturing the maximum market potential of all the related domains, Paytm has partnered with services marketplace Ezeego1 for hotels and flight bookings. Paytm is also in talks with several airlines to partner with them as well. With a large number of daily consumers, Indian railways form a large market volume for startups. Paytm is also incorporating the rail inventory of Indian Railway Catering and Tourism Corporation on its platform.
The major motive of Paytm of all such integration in the portal is to aggressively expand its presence in the payment driven solutions. Rail, road, airline and tour booking are the next focus areas of Paytm to enhance its online travel business vertical. As per resources, Paytm is planning to invest around Rs 120 crore on its travel marketplace in the current financial year.
Abhishek Rajan, head of travel marketplace, Paytm stated, “It is becoming increasingly challenging for vertical players to drive traffic whereas, horizontal players like Paytm have been fairly successful in driving loads of it. Our intention is to continuously add new travel categories to the platform and drive organic growth without making large marketing investments.”
Recently, to beat the monopoly of BookMyShow in Movie Ticketing Domain, Paytm announced tie-ups with PVR, INOX and multiple other cinemas to sell movie tickets on its portal. Last month, rival Snapdeal had integrated bus, flights and food delivery bookings on the platform to drive up its gross merchandise value.
Learning for entrepreneurs is to make their business model vertical by capturing all the related products/ service etc, rather than just remaining restricted to horizontal business model by offering some specific product or service. Competition of biggies can easily be overcome by becoming one stop solution for consumers for specific needs.