Paytm has added a new feature that will make last-minute movie ticket cancellations easier. Dubbed 'Cancellation Protect,' the feature lets users cancel their booked movie tickets up to three hours ahead of the scheduled show time, for a cancellation charge of Rs 9 per ticket. The balance amount is refunded to the users. Even though we found this feature on Paytm's website, we couldn't find it in the app.
Paytm started movie ticket booking functionality in April last year, breaking BookMyShow's monopoly over the business. Earlier this year, the company revealed that its movie ticketing business has crossed a gross merchandise value (GMV) of Rs 400 crore.
Paytm, which has partnered with multiplex chains including PVR, Inox, Carnival and Cinepolis, plans to add 3,000 screens in 2017.
While BookMyShow doesn't offer refunds on cancellations, it does offer users the option to reserve tickets for which they can pay up to one hour before the show.
Earlier this week, Paytm announced that it had acquired a majority stake in Mumbai-based curated events platform Insider.in. The details of the deal have not been revealed by either of the two companies.
The development indicates Paytm's intentions of taking on players like BookMyShow, which has been focusing on events business in addition to movie ticketing as well.
Insider.in is owned by Only Much Louder (OML), one of the leading ticketing platforms in the country, which can be used to book tickets for a large variety of events.