Indian e-commerce payment platform Paytm, a subsidiary of One 97 Communications, intends to commit 500 crore rupees ($70.2 million) for scaling its operations and extending its portfolio.
In addition, Paytm has unveiled domestic hotel bookings on its platform.
The company said that it has bought hotel-booking platform Nightstay. The purchase will help Paytm leverage Nightstay’s ingenuity to further extend its portfolio in this vertical.
Paytm noted that with the launch, its customers can access over 50,000, daily room nights, from handpicked top-quality hotels, and the company intends to increase this number to 2 million hotels & alternate accommodations internationally.