Paytm announces expansion in education space
Mumbai, July 9 (UNI): Digital payments leader Paytm has announced its plans to significantly expand education services by building and facilitating everything that is needed by students, parents and government job aspirants.
The company is aggressively partnering with thousands of private and government institutions to offer full bouquet of services across payments, commerce, financial and academic services.
Paytm already offers fee payment services at more than 10,000 educational institutions across the country. In FY'20, it plans to cross Rs 20,000 crore GMV in the Education Business. The company is looking to further build on the trust that it enjoys with its customers, by facilitating a one-stop destination for all educational needs.
Vineet Kaul, senior vice president - Paytm said, ''We want to enable the student and parent community at every step. Right from providing details on 25,000 colleges, schools, courses and exams, our bouquet of services will include-payments (in-app and in educational centres), commerce (coaching, scholarships, test preparation, admission forms etc.) and financial services (student insurance, educational loans (easy EMI) and banking)."
Paytm Education has charted out a plan to expand its presence in the entire education ecosystem in India, which is estimated to be worth more than Rs 100,000 crore. It is working with private and government educational institutions to offer admission forms, exam results, applications for Government jobs, coaching & test preparations, scholarships, study abroad, skill development & certification programs and convenience to buy uniforms, books & stationery on its platform. The company will also offer financial services like educational insurance, loans and co-branded smart cards to students.
Paytm has already entered into a partnership with prestigious institutions like Railway Recruitment Board, Maharashtra Public Service Commission, National Testing Agency, Indian Navy, Amity, VIT, Manipal, AKTU, Army Public Schools, Delhi Public Schools, Delhi University, IITs, IIMs, NITs, Aligarh Muslim University, AIMA, ICAI, Narayana Group, Career Launcher, Made Easy, Career360 and several others. The company is targeting to onboard 3.5 crore users across 20,000 private schools, 1000 higher educational institutes and 1000 coaching institutes while achieving higher GMV with its large bouquet of services.