Paytm has partnered various QSRs covering 7,000-10,000 outlets in cities like Delhi, Mumbai, Bangalore and Hyderabad.
Alibaba-backed Paytm has announced that it will enter into the offline retail space in the next two months. This move will allow users to use Paytm's mobile wallet at quick service restaurants including Domino's and Cafe Coffee Day.
Paytm is a mobile commerce platform and does more than 60 million orders of various digital and physical goods every month. Launched in 2014, Paytm is head-quartered in Delhi NCR. The company’s investors include Ant Financials (AliPay), SAIF Partners, Sapphire Venture and Silicon Valley Bank.
At present, Paytm offers and recharge services for DTH and mobile phone services as well as mobile wallet services for online transactions on Uber, Bookmyshow, eBay and IRCTC.
"We are now foraying into the offline space. We have partnered various QSRs covering 7,000-10,000 outlets in cities like Delhi, Mumbai, Bangalore and Hyderabad," Amit Lakhotia, Vice-President (Business), Paytm told PTI.
“The integration is on and the service should be available by mid-June. Mobile wallet usage is definitely growing in the country. On our platform alone, about 66 million people are using the wallet services and the number will cross 100 million much before the year ends," said Lakhotia.
“By going offline, Paytm will offer customers the choice to pay through a secure and reliable platform,” added he.