Paytm, the digital payment platform is expected to launch its payment banking towards the end of 2016. It has a budget of Rs 600 crore on the marketing actions and has been putting great exertion towards its perception about the latest business unit.
The Reserve Bank of India had issued the company a license last august to initiate the payment banking operations that will be utilized among various media platforms like television, radio, print media, etc.
Shankar Nath, senior vice-president of Paytm said “We are looking at increased saliency around our money transfer, who includes person-to-person payments at kirana stores and petrol pumps bill payments and movie ticketing businesses. We expect a minimum 40 per cent jump across all these categories”.
out of the 600 crores that were allocated towards marketing sector for the financial year ending March 2017, Rs 50 crore has been set aside for television broadcasts, which have already initiated circulating.
The marketing payouts will also involve stimulating spiritually the Noida-based company’s current mobile commerce business that contends with the likes of one of the India’s largest e-commerce company Flipkart and Snapdeal as well as the country’s largest on the internet marketplace, Amazon India.
The company that was supported by Chinese e-commerce giant monster Alibaba Group and its partner Ant Financial have been on an advertising activity for more than 12 months.
In July 2015, it hit a title sponsorship agreement with Board of Control for Cricket in India (BCCI), the top framework which regulates Indian cricket, to promote domestic and international matches in the country for a period of four years, for over Rs 200 crore.
Shankar Nath also added to this statement, “We launched our iconic PaytmKaro campaign with the IPL last year, and followed it up with a plethora of tactical business support campaigns which were very well received — electricity bill payments, metro, bus ticketing & offline payments vertical, to name a few”.