Paytm’s parent company, One 97 Communications Limited (OCL), has partnered with travel aggregators such as Skyscanner, Google Flights, and Wego, according to the company’s statement in a BSE (Bombay Stock Exchange) filing. This initiative is part of Paytm’s broader strategy to expand its market share in online travel services.
Despite this collaboration, shares of Paytm’s parent company dipped by 0.74% to ₹408.25 apiece on the BSE today, as the scrip opened at ₹409.10.
Paytm Travel has expanded its international offerings by adding three new carriers: Cambodia Angkor Air, SalamAir, and FlyDubai. This expansion gives users more choices for international travel. The platform has also broadened its domestic services by partnering with new bus operators, including Mettur, extending its reach to travellers from smaller cities and towns, the company states.
Furthermore, Paytm has introduced a Free Cancellation service across its travel categories, including trains, buses, and flights.
“The introduction of a Free Cancellation service has seen high growth in trains and buses, followed by flights, offering customers greater flexibility and peace of mind,” Paytm says.
In the fourth quarter of FY24, Paytm’s travel segment experienced notable growth, with flight bookings increasing by approximately 19% year-on-year (YoY), surpassing the industry’s growth rate of around 3%. Additionally, the company reported a 15% YoY rise in international ticket bookings in April, the company stated in a release.
Recently, Paytm has advanced by integrating its New Distribution Capability (NDC) with Amadeus. This integration, initially featuring Singapore Airlines and Qatar Airways on the NDCx platform, along with the onboarding of Eva Airways, utilises artificial intelligence (AI) to provide customised travel options and packages directly from airlines, thereby enhancing the booking experience for users.
Paytm spokesperson said, “We are committed to expanding our travel business offerings and enhancing the overall customer experience. Our partnerships 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.”