April 30, 2015: India's fastest growing mobile payment startup Paytm partners with Indian Railway Catering Tourism Corporation (IRCTC) to provide Paytm wallet as an alternate way of payment for online train ticket booking. This will empower users to pay through mobile wallet instead of traditional bank cards.
This deal comes as a first major strategic collaboration for the company, and the startup aimed to provide 25,000+ tickets in a day through their wallet.
"This is a major partnership for us as it allow users to book train tickets via Paytm wallet. IRCTC is the second biggest consumer-transacting platform today after Paytm," says founder of startup, Vijay Sharma to YourStory.
Launched in 2010, starting as a recharging & utility bill payments provider to entering in e-commerce space in 2014 and eventually travelling sector this year, the startup grows to become a viable payment option for 60 million active users till date. The startup receives $575 million in funding from Chinese tech giant Ali Baba last month and personal investment from India's popular industrialist Ratan Tata.
Source: YourStory.com
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