Paytm, one of the biggest e-commerce platforms of India is not aiming to take its business to the next level. After Paytm Mall, Paytm Payment’s Bank and Paytm UPI Integration, Paytm now wishes to enter subscriptions market as well.
Paytm in the subscription market
Being a global unicorn company Paytm has planned yet another mega move which will take its business to the next level. Paytm’s new reward program is aiming to club slash merge slash bring all the subscriptions of an individual user to one place including Entertainment portals (like Hotstar, Netflix, Amazon Prime), food delivery portals (like Zomato, UberEats, Swiggy), Shopping Portals (like Amazon, Flipkart, Snapdeal), Music Portals (like Gaana, Hungama, Wynk) and every other platform which offers subscriptions.
The e-commerce giant which already offers services digital wallet, online payments, UPI transfers, online ticket booking etc. is now putting steps forward to start its own subscription-based rewards & loyalty program. The platform will go by the name “Paytm First”.
As per the reports, for the beginning of it’s subscription program, Paytm has already tied up with Zomato Gold, ViU Premium, Gaana, Sony Liv, Eros Now and some other subscription-based platforms to start providing its services to consumers in the field of food delivery, entertainment, shopping, TV, music, movies, live cricket and more.
Apart from providing the ease of access to the customer by pulling all the important digital platforms providing subscriptions at one place, Paytm will provide its customers with exclusive benefits from Paytm First Subscription and on the membership brands as well. It is being estimated that the subscription for Paytm first will be priced at Rs. 750/- annually. As per the internal research made by Paytm, their new platform will be able to bag around 30 lakh subscriptions in 1st year only.
Customer Oriented Strategy
Paytm is looking forward to improving customer experience and strengthen it’s a relationship with them to increase customer satisfaction and yield customer loyalty. With the advent of “Paytm First”, customers will derive benefits like:
- It is being said that the company might offer up to Rs 12000 as cashback. Also, an Rs. 100 reward shall be followed as an inaugural cashback for the first subscribers.
- Movie freaks will be able to enjoy rewards worth up to Rs. 1500 in form of cashback, apart from the Rs. 100 monthly reward for booking tickets online.
- The platform may offer rewards up to Rs. 2400 & Rs. 6000 for UberEats & UberRides users respectively.
- The company will be providing free shipping to the users of Paytm mall along with priority customer support.
In an interview, Deepak Abbot, Senior Vice President of Paytm said,” We are happy to have collaborated with leading players of e-commerce from their respective verticals during the initial launch phase of Paytm First and we will continue to expand the business with more benefits and value to our customers.”
If we understand the business model of Paytm, it will be in direct rivalry with “Amazon Prime” and “Flipkart Plus” subscription. Also, in a recent, Paytm has also signed an agreement with Noida Police with regard to entering into traffic challan payment segment.
This is the proof that Indian Unicorn Company cum brand Paytm is adopting world-class business techniques which will serve it to reach global brands to expand its business while following a customer-oriented approach. The new application of Paytm first is available on Google Play Store and can be used. Paytm has started distributing subscriptions already and you can avail heavy discounts on kinds of digital platforms by downloading the app and obtaining a subscription to “Paytm First”.