- Paytm has chosen to deliver content, news, brief videos, and live TV by September
- The firm has also started the service hiring process.
- It has 27 million active monthly consumers on the Paytm Inbox
Paytm has chosen to deliver content, news, brief videos, and live TV by September, a press report said. Additionally, a foray into the video content space is allegedly being sought and plans to launch over-the-top (OTT) services. According to press reports, the firm has also started the service hiring process.
The platform for digital payments will seek to double its Monthly Active User base to 250 million.
For this, Paytm had already partnered with OTT content provider YuppTV to provide content through its Paytm Inbox service together with Hungama, UC News among others.
The firm thinks that to compete with its competitors, such as Amazon, which provides video and audio streaming services through Amazon Music and Prime Video, it would need more content, according to reports.
Senior Vice-President Deepak Abbot, Paytm, was cited as stating:
We already see 27 million active monthly consumers on the Paytm Inbox. Now that we are upgrading it with creative use of content to the next level, we hope to get about 60-70 million fresh customers.
On the back of continuous advertising attempts, the Noida-headquartered firm hopes for greater customer involvement. It also looks back at three-quarters agreements with smartphone producers to assist grow customers.
We also have deals with smartphone producers such as Oppo, Vivo and Xiaomi where consumers will be able to built-in the Paytm application,” Abbot said. “Since 55-60% of them are first-time consumers of smartphones, we hope to catch that market segment once they get the app.”
Paytm is also working, in addition to a fresh set of consumers, to expand payments to government agencies such as municipal taxes, traffic fines and others to encourage their use.
We are planning to achieve 20 million retail stores from the present 13 million offline retail outlets offering Paytm QR digital payments,” he said.
Paytm seeks to spend Rs 750 crore acquiring fresh merchants in tiny towns and cities to popularize heartland digital payments.
Paytm targets fresh customers outside the metro and ensures that customers who already use Paytm in towns are sticky, Abbot said.