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Paytm Strengthens Travel Segment with Key Global Alliances

25 June 20243 mins read by Angel One
Paytm announced substantial growth in its travel segment, driven by partnerships and innovative solutions, including AI-powered booking capabilities.
Paytm Strengthens Travel Segment with Key Global Alliances
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On June 24, 2024, One 97 Communications (OCL), known for its brand Paytm, announced substantial growth in its travel segment.

The company stated that this progress has been fueled by partnerships and innovative travel solutions. They collaborated with major global travel aggregators, including Google Flights, Wego and Skyscanner, underscoring their dedication to providing customers with comprehensive and seamless travel services.

In Q4 FY 2024, Paytm continued its upward trajectory in market share among online travel agencies (OTAs), with flight bookings increasing by approximately 19% year-on-year, significantly outpacing the industry’s growth rate of around 3%. This growth was further emphasised by a 15% year-on-year rise in international ticket bookings in April, establishing Paytm Travel as the preferred destination for competitive prices and seamless travel services.

The company further added that as the second-largest OTA in train bookings, Paytm continues to enhance customer experience with features like guaranteed seat assistance and easy Tatkal bookings, making train travel more convenient and accessible. Paytm has also seen increasing preference among travellers, including those from small cities and towns, for their commuting needs.

The recent New Distribution Capability (NDC) integration with Amadeus, featuring Qatar Airways and Singapore Airlines as the first airlines on NDCx and the onboarding of Eva Airways, marks a significant milestone. This integration offers AI-powered capabilities, enhancing the booking experience by providing more tailored travel options and packages directly from the airlines.

Paytm Travel has onboarded three new airlines, SalamAir, Cambodia Angkor Air, and FlyDubai, to provide more options for international travellers. The platform now also includes new bus operators, such as Mettur, who are expanding their service offerings. Additionally, introducing a Free Cancellation service, which has seen significant growth in usage across trains, buses, and flights, provides customers with greater flexibility and peace of mind, as stated by the company.

Speaking of these developments, a spokesperson from Paytm, 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.”

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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