Paytm automobile vertical marks exponential growth

New Dehi, July 26 : Paytm, India's largest mobile payment and commerce platform is witnessing tremendous traction for its automobile vertical.

Through continuous strategic partnerships with leading automobile companies, the platform is fast inching towards its goal of being an all-in-one vehicle booking platform in the next six months.

With increased product offerings, the mobile commerce platform is experiencing an overwhelming growth rate of 45 percent month-on-month for its auto vertical.

The platform has entered into tie-ups with industry leaders like Suzuki, Yamaha, Hero Electric, and Piaggio and is in talks with niche scooter manufacturers such as Mahindra and Mahindra to ramp up its offerings in this space.

It has also forayed into the four-wheeler segment by enabling bookings for the Renault Kwid for which it has already registered booking of 100 units.

"We are experiencing a great response for the automobile segment with rapidly increasing demand. We will close bookings worth Rs. 12 to 15 crore this month, thanks to our proposition of being a one-stop solution for all automotive needs of customers, from booking convenience to attractive finance schemes," said Vice President Paytm, Renu Satti.

Paytm at present has 1,000 dealers across all Original Equipment Manufacturers (OEM) and is planning to triple this figure within a span of 6 months.

The platform also backs its automobile products with exclusive offers and hassle-free insurance schemes.