Paytm launches 'movies under Rs 100' to make cinema accessible

Paytm on Tuesday said that it has launched 'movies under Rs 100' segment for shows with ticket prices below Rs 100. The company said this new option will make movie ticketing accessible for a wider set of customers including families, college goers among others.

Paytm's latest online ticketing segment uses the same online booking flow. Customers can tap on the 'Movies Under Rs 100' icon on their Paytm app, choose their favorite movie, show timing, seats and proceed to pay for their booking. They can also choose to complement their bookings with food combos available in the app.

"This service is aimed at offering customers the movie going experience at an affordable price. Initial response is very encouraging, and we are seeing usage especially among college goers, young couples and families," said Madhur Deora, Chief Financial Officer and Senior Vice President at Paytm. With more than Rs 400 cr in revenue within a year of launch, Paytm's online movie ticketing service is available at more than 3500 screens across 550 cities. The company says its platform is garnering major traction from India's Tier II and Tier III cities.

Last month, Paytm announced the launch of its payments bank in India. Paytm's payments bank offers customers a 4  per cent interest rate. Paytm users can now get almost every banking service that a conventional bank offers with their e-wallets.

Japanese conglomerate SoftBank also pumped in $1.4 billion (over Rs 9,079 crore) in Indian digital payments platform, Paytm, marking the largest fund infusion by a single investor in an Indian start-up.