Indian mobile wallet provider Paytm detailed ambitious targets to double the number of monthly active users across its platforms to 250 million in the wake of launching a number of new services, The Economic Times reported.
The company’s SVP Deepak Abbot told the newspaper it planned to add content services including news, short video and streaming services to its apps. It already provides digital payment, online shopping and messaging services across India.
In July reports emerged Paytm, which is backed by a number of huge investors including SoftBank and Alibaba, would pump INR2.5 billion ($35.1 million) into expanding the reach of its mobile payment service into small- and medium-sized towns in India.
Expansion of the service into new areas and launching content services are two of a number of measures undertaken by the company to boost user engagement and numbers.
Abbot noted in an attempt to increase usage further it had inked deals with handset manufacturers Oppo, Xiaomi and Vivo to have its app built into selected devices.
It is also in talks with several local authorities to supply payment for municipal services such as taxes and fines directly from its apps.Subscribe to our daily newsletter Back