One97 Communications Limited (OCL), the parent entity of Paytm, has joined hands with global travel technology company Amadeus to integrate the latter’s offerings into its services.
As per the release, Paytm has partnered with global travel technology to redefine its users’ travel experience with artificial intelligence. By leveraging Amadeus’ automation and New Distribution Capability (NDC) technologies, Paytm aims to achieve precise results and establish a consistent travel shopping ecosystem.
Vikash Jalan, the chief business officer of Paytm Travel, said, “…The synergy between Paytm and Amadeus aligns perfectly with our vision to further upgrade the customer experience. It will automate travel operations for users by enhancing efficiency and scalability by leveraging cutting-edge technology.”
This integration will help enhance the overall travel experience for users, encompassing the entire journey from search and booking to payment.
Ramona Bohwongprasert, senior vice-president (India Subcontinent & Southeast Asia, APAC Inside Sales & Startups) at Amadeus, said, “….Our solutions are designed to instil confidence in travellers, and empower them (Paytm) to expand their businesses across geographies.”
Paytm ventured into the travel space in 2014, providing cost-effective deals for online bookings of trains and buses. In January 2019, the company fortified its presence in the travel domain by acquiring NightStay, a last-minute hotel booking app based in Noida, for an undisclosed sum.
In September 2019, the company declared its intention to invest INR 250 Cr ($35 Mn) in its travel business over the subsequent six months. Additionally, Paytm is an authorised partner of the Indian Railway Catering and Tourism Corporation (IRCTC).
By collaborating with Amadeus, Paytm seems to have strengthened its position in the travel market, as the partnership is expected to enhance its capabilities as a leading travel provider in the country.
By utilising Amadeus’ advanced automation and NDC technologies, Paytm aims to ensure accurate outcomes and establish a reliable travel shopping ecosystem. Paytm will deliver hyper-personalised recommendations and dynamic pricing to offer a world-class experience to its users powered by Amadeus.
The partnership will also help Paytm users gain access to a vast inventory of global flight options, making it easier for them to find the best deals and book flights to destinations around the world, all within the Paytm app.
Paytm’s integration with Amadeus’ tech ensures that travellers have access to a diverse range of payment options, including the convenience of UPI, the flexibility of the Paytm Wallet, and a safe and secure payment gateway.
Earlier today, Paytm was included in the MSCI Global Standard Index, along with nine other new stocks, causing One97 Communications’ shares to reach their peak for the month. Notably, Paytm disclosed a 49% year-on-year decline in consolidated net loss, totalling INR 291.7 Cr for the quarter ending September 2023.
Shares of Paytm ended Wednesday’s trading session at INR 914.8 on the BSE.
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