The Paytm owning company, One97 Communications announced on Tuesday the launch of a premium subscription-based rewards and loyalty programme called ‘Paytm First’ for its users.
The company aims to offer exclusive benefits over and above the regular Paytm cashback offer through this program. Also, it will promote it for its further usage and increase customer retention.
Paytm announces the launch of its subscription service, Paytm First.
The company is aiming to sell over three million subscriptions within the first year of its launch.
Paytm has partnered with multiple players including food discovery platform Zomato, music streaming service Gaana, cab aggregator Uber, and OTT platforms Sony Liv and Eros Now.
Further, the Paytm First subscription, priced at Rs 750 per year, will include a Zomato Gold membership, annual subscription for Gaana, Sony Liv, and Eros Now memberships.
In a statement, Paytm said the subscription will also provide a ViU Premium membership, which will give benefits of up to Rs 6,000 on cab aggregator Uber, as well as Uber Eats.
Additionally, Paytm is also looking to provide exclusive offers on its movie ticketing platform as well as its ecommerce platform Paytm Mall.
Speaking on the launch of Paytm First, Deepak Abbot, Senior Vice-President, Paytm said,
“We are very excited to launch our exclusive loyalty programme ‘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 Paytm First programme with more benefits and value to our customers.”
Paytm First’s subscription directly competes with Amazon’s subscription programme – Amazon Prime.
India continues to be one of the biggest markets for the ecommerce behemoth. In April last year, Amazon CEO Jeff Bezos confirmed that in its first year, India saw maximum customers signing up for Amazon’s Prime suite than any other geography around the globe.
Further, if industry reports are to be believed, Paytm is also looking to launch its own OTT service, which will put the payments major directly against the likes of Netflix, Amazon Prime Video, Hotstar, Eros Now, and JioTV.
In August last year, Indian ecommerce major Flipkart also launched its subscription service, Flipkart Plus, to reward customers by giving them access to exclusive deals and free one-day deliveries.