One97 Communications, which owns and operates Paytm — one of the leading online payments platform in India, has today launched its all-new subscription-based loyalty program — Paytm First. The company says that it aims to sell more than three million subscriptions within the first year of its launch.
With this new service, the company will be offering exclusive benefits over and above the regular Paytm cashback offers, with an aim to increase user retention. It is priced at Rs 750 per year and the company is currently offering Rs 100 cashback as a part of an inaugural offer for a limited time.
The company has also partnered with several other companies, including food discovery and ordering platform Zomato, music streaming service Gaana, cab aggregator Uber, and OTT platforms Sony Liv, Viu, and Eros Now, among others.
Commenting on the launch, Deepak Abbot, Sr. Vice President, Paytm said. “We are very excited to launch our exclusive loyalty program “Paytm First” with sought after rewards and benefits spanning across video and music streaming, food and travel, shopping and lifestyle. We are happy to have partnered with leading players from their respective verticals during the initial launch phase itself and we will continue to expand the program with more benefits and value to our customers.”
As a part of the program, users will get Zomato Gold membership, an annual subscription to Gaana Pro and Sony Liv as well as Eros Now membership. It also offers Viu Premium membership as well as benefits of up to Rs 6,000 on cab aggregator Uber, as well as benefits of Rs 2,400 for Uber Eats.
Further, the company is also planning to provide exclusive offers on its movie ticketing platform as well as its e-commerce platform Paytm Mall. The service directly competes against Amazon Prime and Flipkart Plus.
While Paytm has launched this subscript-based service, the company has not yet shared details on how to purchase this service. Stay tuned to our social media accounts where we’ll share the updates.