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Alibaba-Backed Mobile Wallet Company Adds Domino's

  • LiveMint, Wednesday, May 6, 2015 10:35 AM
Paytm’s mobile wallet will soon be accepted at quick service restaurants (QSRs), including Domino’s and Cafe Coffee Day, as the Alibaba-backed company forays into the offline retail space in the next two months. At present, Paytm offers and recharge services for DTH and mobile phone services as well as mobile wallet services for online transactions on Uber, Bookmyshow, eBay and IRCTC. A mobile wallet is a prepaid payment instrument, which allows customers to digitally store money in a secure virtual wallet and use it to pay bills and other services. “We are now foraying into the offline space. We have partnered various QSRs covering 7,000-10,000 outlets in cities like Delhi, Mumbai, Bangalore and Hyderabad,” Paytm vice-president (business) Amit Lakhotia told PTI.

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