Paytm jumps 9% as firm partners with Samsung

Shares of Paytm parent One97 Communications rose 9% in intra-day trade on Thursday after the company announced that it partnered with Samsung to offer ticket-booking facility for flight, bus, movies and events on Samsung Wallet. The stock closed nearly 8% higher at Rs 432.90 on the National Stock Exchange.

The partnership aims at enhancing consumers convenience by offering a seamless, integrated booking experience directly through the Samsung Wallet, facilitating access to a wide range of services through Paytm.

Galaxy smartphone users using the Paytm app for flight, bus and movie bookings and the Paytm Insider app for event booking will be able to add their tickets directly to Samsung Wallet using ‘Add to Samsung Wallet’ functionality, a press release said.

Bilasipara – Guwahati Road, Bihta airport’s new civil enclave among infra projects evaluated under PM GatiShakti – Details inside Adani-Hindenburg: Fresh SC plea seeks completion of Sebi probe to clear ‘atmosphere of doubt’ Tata Play switches off Sony channels in streamlining measure Saral’s Yash Chavan on influencer marketing shifts, ROI metrics, and AI-driven solutions

Also Read

ixigo’s allotment finalised on June 13; Here’s how you can check

“By combining Samsung’s cutting-edge technology with Paytm’s wide-ranging services, we are making it easier than ever for consumers to manage their bookings and payments through a single unified platform,” a Paytm spokesperson said.

Following the Reserve Bank of India’s action on Paytm Payments Bank, the company is focusing on its payments and distribution businesses. After a temporary pause of two months, the company has resumed lending activities in partnership with partners. The company has partnerships with SMFG India Credit and Shriram Finance, among others.

Separately, the company has reiterated plans to double down on insurance distribution across health, life, motor, shop and gadgets segments, facilitated through the wholly owned subsidiary, Paytm Insurance Broking.

“We aim to innovate on small ticket insurance products for consumers and merchants alike, by focusing on small-ticket general insurance offerings along with our partners and leverage the strength of Paytm’s distribution to increase insurance penetration to a wider audience,” the company said in an exchange filing on Wednesday.

Also Read

TradeBulls Securities expects gold to remain range-bound between Rs 70,200-72,000

\

Related Posts