STOCK MARKET BSE NSE

PayTM aims to become one-stop shop for education sector services 

According to senior vice president Vineet Kaul, the company already has several thousand partners, including school, colleges and coaching centres.

Published: 13th July 2019 08:57 AM  |   Last Updated: 13th July 2019 08:57 AM   |  A+A-

Online classes, Online education

For representational purposes

Express News Service

E-commerce and digital payments giant PayTM is all set to expand aggressively into yet another sector: Education. While the company already offers a number of services in the space, it is planning to expand this bouquet of services over the next few quarters. Speaking to this publication, PayTM’s senior vice president Vineet Kaul said that the primary trigger for the company’s decision to expand its offerings in the sector was the sheer size of the market (India has between 200-300 million students) and the absence of a ‘one-stop-shop’ for all education services. 

“This is a large space and it cannot be ignored. While there are many players in the space who offer many different niche education services, there isn’t anywhere parents and students can go to access all of them,” Kaul pointed out. According to the company’s official statement, PayTM will embark on the expansion by “partnering with private and government institutions to offer a full bouquet of services across payments, commerce, financial and academic services”.  

According to Kaul, the company already has several thousand partners, including school, colleges and coaching centres. “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),” Kaul said.

While the company will partner with other entities to provide services like test preparation coaching for a wide variety of tests, there will also be products it will build in-house. One major such effort is a system that will allow parents and students to apply easily to a number of schools and colleges in one go. 

“All they will need to do is fill in a single application form on the app and they can then send it to multiple schools or colleges they plan to apply for. This will make an extremely cumbersome process easy,” Kaul said. With several products and services to be rolled out over the next few months, PayTM aims to cross Rs 20,000 crore in  Gross Merchandise Value by the end of this financial year in the education segment.  

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp