Paytm earmarks Rs 100 crore for marketing during festive season

Paytm has set aside Rs 100 crore for marketing campaigns — including cashbacks and “buy now, pay later” schemes — during the festive season, as India’s biggest fintech startup looks to bolster its business ahead of an initial public offering (IPO).

The Vijay Shekhar Sharma-led company has started ‘Paytm Cashback Dhamaka’ as part of the marketing campaign for users in all districts of India and with special focus on the states of Gujarat, Maharashtra, Andhra Pradesh, Telangana and Karnataka.

"The company and its partners will allocate Rs 100 crore for marketing activities during the festive season,” according to a statement issued on Monday. “The campaigns will be aligned to promote digital payments in India and educate users on Paytm UPI for money transfers, Paytm Wallet and Paytm Postpaid for spends, to drive financial inclusion across the country.” The campaign will continue till November 14.


"During the peak festive season, everyday 10 lucky winners will win Rs 1 lakh each, 10,000 winners will get Rs 100 cashback, while another 10,000 users will win Rs 50 cashback. Closer to Diwali (November 1-3) users can win up to Rs 10 lakh daily," the statement added.

The cashback will be provided on using Paytm for their mobile, broadband DTH recharges, utility bill payments, money transfer, booking travel tickets, paying credit card bills, booking movie tickets, FASTag payments, transactions at online and offline kirana stores, etc.

"Our aim is to drive financial inclusion in India by empowering more and more users with digital payments. Today, users come to Paytm for payments of their utility bills, recharges, money transfers among other services,” a spokesperson said. “Paytm Cashback Dhamaka has been launched to celebrate the festive season with our users and offer them exciting cashback and rewards.”

With inputs from PTI.