70% of train tickets booked on Paytm are from Tier-II and III cities

Ahmedabad, Kanpur, Chandigarh, Varanasi, and Allahabad come out as 5 top Tier-II, Tier-III markets

 

 

Recent data by Paytm show that more than 70 per cent of all train tickets booked on Paytm over the past year is from Tier-II and Tier-III cities, in a sign of the increasing reach of digital transactions in non-metro regions after demonetisation.

The study was conducted based data from more than two million rail tickets booked on Paytm over the past year. It was found that while the average ticket size in Tier-I cities is Rs 530, in Tier-II cities it is only Rs 350, pointing at semi-urban and rural India’s price sensitivity. Interestingly, 70 per cent of women booked their train tickets more than a week in advance, while the same was applicable for a mere 30 per cent of men.

"In recent months, Paytm has witnessed exponential growth in travel with more than 10 million tickets sold in financial year 2017. Our five biggest Tier-II and Tier-III markets are Ahmedabad, Kanpur, Chandigarh, Varanasi, and Allahabad. This year, the company is aiming to be the country’s largest destination for all travel booking needs," the report said. Paytm is the first horizontal e-commerce major to enter into the travel business, a domain that was dominated by vertical players.

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On the right track

• The five biggest Tier-II and Tier-III markets are Ahmedabad, Kanpur, Chandigarh, Varanasi, and Allahabad

• The average ticket size in Tier-I cities is Rs 530, while in Tier-II its only Rs 350, pointing at semi-urban and rural India’s price sensitivity

• Seventy per cent of women booked their train tickets more than a week in advance, while the same was applicable for a mere 30 per cent of men

• In recent months, Paytm has witnessed exponential growth in travel with more than 10 million tickets sold in FY17

• The top preferred routes by passengers this summer include New Delhi–Lucknow, Visakhapatnam–Secunderabad, New Delhi–Kanpur, Chennai–Bengaluru, Ahmedabad–Surat and Pune–Solapur.

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NPCI will announce 15,000 winners of 1000 rupees each for next 100 days, starting from Christmas

In a move to promote digital payments, the government of India has announced slew measures.

NITI Aayog CEO, Amitab Kant announced the #LuckyGrahakYojna.

The following points are the highlights of the scheme.

Digital payments through RuRay cards, UPI, AEPS and USSD between Rs 50-3000 will be eligible for awards. There will be a different prize for consumers and merchants.

Under the Lucky Grahak Yojna, daily 15,000 winners will eligible for a prize worth Rs 1,000 for the next 100 days starting December 25. A weekly award for around 7,000 consumers eligible for a maximum prize of Rs 1 lakh was announced.

NPCI will announce 15,000 winners of 1000 rupees each for next 100 days, starting from Christmas.

Under the Digi-Dhan Vyaapari Yojna, every week, more than 7,000 merchants will be eligible for Rs 50,000 prize.

Mega awards, in both the categories will be declared on the occasion on the birth anniversary of Dr Bhimrao Ambedkar. Under this Mega Award, consumers can win prize worth Rs 1 rore, Rs 50 lakh and Rs 25 lakh.

While merchants can win prize worth Rs 50 lakh, Rs 25 lakh, and Rs 5 lakh.

"Lucky Grahak Yojana and Digi Dhan Vyapari Yojana is Christmas gifts for the nation", said Amitab Kant.

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Save Rs 900 on petrol bill: After cash pain, some cashless gain

With the govt providing discounts in some areas to push digitisation, consumers should try and maximise benefits

The government, a month after implementation of demonetisation, has decided to give a push to digitisation. On Thursday, Finance Minister Arun Jaitley announced a slew of incentives for people willing to transact digitally.

Making digital payment on fuel purchases from petrol pumps will be cheaper by 0.75 per cent. New policies bought from customer service portals of Life Insurance Corporation (LIC) and public sector general insurance companies will attract a discount of eight per cent and 10 per cent, respectively.

There are a number of other transactions as well on which the government has decided to give discounts, provided one is willing to take the cashless route. Says Madan Sabnavis, chief economist, CARE: “The government is almost following a placatory approach with these incentives, after almost forcing people to go digital in the first month. This is a good approach, as it makes people more comfortable.”

Some petrol pumps charge two per cent on credit cards, a deterrent for many people. Now, with the government giving a discount, many will be encouraged to use cards. “However, to encourage the use of digital payment more aggressively, I believe, the government should give such incentives in many other areas,” added Sabnavis.

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Cash-short payment options grow

Quickly changing tack and game plan, online marketplaces and mobile wallets, 48 hours since the announcement of banning Rs 500 and Rs 1,000 notes, have been busy pushing old and new digital payment options.

The aim is to hold on to their cash-based customer base, as well as maintaining their gross merchandise value targets.

Online mobile wallet major Paytm is adding a feature of geo-locating all the offline points where their wallet is accepted. Snapdeal is now accepting payments via their mobile wallet, Freecharge, on delivery of the product.

With the cash on delivery (COD) customer base accounting for 60 per cent of total transactions, online marketplaces are eager to retain this customer base but minus the hassle of getting the cash back into the company. So, instead of COD, they are opting for mobile wallet on delivery, so that people who have stopped shopping as they are staunch believers of COD can have the satisfaction of paying only when they get the product at their doorstep. This, it is hoped, would help online marketplaces get back the customers they fear losing.

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