Paytm Shares See Good Rally On Partnership With Samsung Wallet

Samsung and Paytm have announced partnership to bring travel & entertainment services to Samsung Wallet in India.

New Delhi: Partnership with Samsung seems to have propelled shares of One97 Communications, parent company of Paytm. Paytm shares opened at Rs 407 apiece on NSE. In the week, the company's shares have zoomed nearly 30 percent.

At 11.58 am, shares of Paytm were trading at Rs 432.35, higher by 7.42 percent or Rs 29.85 apiece on NSE.

Paytm has announced partnership with Samsung Wallet for bookings of flight, bus, movies, and events. 

"The partnership aims to enhance consumers’ convenience by offering a seamless, integrated booking experience directly through the Samsung Wallet, facilitating access to a wide range of services through Paytm," One 97 Communications Limited said in a regulatory filing.

With this partnership, Galaxy smartphone users will now have seamless access to Paytm’s suite of services, including flights and bus bookings, movie ticket purchases, and event bookings, all integrated within the Samsung Wallet.

Galaxy smartphone users using the Paytm app for flight, bus and movie bookings and the Paytm Insider app for event booking, will be able to add their tickets directly to Samsung Wallet using ‘Add to Samsung Wallet’ functionality. This will enable them to conveniently access these to enter airports, bus terminals, cinema halls, event venues, etc.