According to a report from Money Control, Paytm is venturing into the ride-hailing market by introducing auto-rickshaw services in major cities like Delhi, Bengaluru, and Chennai through the Open Network for Digital Commerce (ONDC). The aim is to challenge the market dominance currently held by Ola and Uber.
The new ride-hailing feature is currently in testing on the Paytm app and is accessible to a limited number of users. Paytm has been gradually expanding its presence on ONDC, launching services across various e-commerce sectors such as food delivery, grocery, fashion, and electronics.
An insider with knowledge of the project mentioned that extensive software testing and integration are required before each rollout. Paytm may also consider extending its services to include cab bookings similar to Ola and Uber at a later stage.
When users book an auto-rickshaw ride through Paytm, the app displays a message indicating that the feature is “Powered by Namma Yatri,” the seller-side platform for these transactions. The platform, backed by Juspay, manages several consumer-facing ride-hailing apps on ONDC.
In a separate development, Paytm confirmed the resignation of its Chief Operating Officer (COO) and President, Bhavesh Gupta, in a regulatory filing dated May 4th. Gupta cited personal reasons for his decision to step down, effective May 31st, while expressing his commitment to continue supporting the company in an advisory capacity within the office of the Chief Executive.
Paytm expressed gratitude for Gupta’s contributions, mentioning that his resignation has been accepted, and he will be officially relieved from his duties as of the close of business hours on May 31, 2024. The company also reiterated its confidence in its future trajectory, highlighting the strong leadership established in the payments and financial services sectors in recent years.
