Paytm, the digital transaction service, has introduced out a new feature that is certain to make movie ticket cancellations at last minute simpler. Named as “Cancellation Protect,” the feature allows the users to cancel their movie tickets booked up to 3 Hours prior to the planned show time. This can be done for a cancellation fee of Rs 9 for each ticket. The rest of the money is reimbursed to the consumers. Even though we discover this feature on official website of Paytm, we were not able to find it in the app.
Paytm commenced the functionality of booking of movie ticket in April 2017, breaking the domination of BookMyShow over the market. Previously this year, the firm disclosed that its business of movie ticketing has reached a Gross Merchandise Value (GMV) of Rs 400 Crore. Paytm, which has tied up with multiplex majors including Inox, PVR, Cinepolis, and Carnival aims to add more 3,000 screens this year. While BookMyShow does not offer reimbursements on cancellations, it does provide users the option to set aside tickets. User can then pay up to 1 Hour prior to the show.
Previously this week, Paytm declared that it had purchased a majority share in Insider.in, the Mumbai-based platform for curated events. The data of the contract have not been disclosed by either of the 2 firms. The development remarks intentions of Paytm of taking on rivals such as BookMyShow, which has been aiming on events market apart from the movie ticketing as well. Insider.in is held by Only Much Louder, one of the top ticketing companies in the nation, which can be utilized to book tickets for a large range of occasions.
Earlier this month, Paytm has shifted 800 people from One97 Communications, its parent company, to Paytm E-Commerce, its commerce entity. Paytm E-Commerce operates Paytm Mall. This move was done in a bid to scale up the company’s retail business. The Alibaba-supported firm will also employ an additional labor force of almost 2,000 employees in 2017. This will be done with a sole of aim of building a sizeable and noteworthy e-commerce presence.