homestartup NewsPaytm expects gross sales of Rs 20,000 crore from education business in FY20

Paytm expects gross sales of Rs 20,000 crore from education business in FY20

Paytm expects gross sales of Rs 20,000 crore from education business in FY20
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By CNBC-TV18 Jul 9, 2019 10:04:00 PM IST (Published)

Digital payments major Paytm on Tuesday said it is planning to cross Rs 20,000 crore gross merchandise value (GMV) in the education business in FY20.

Digital payments major Paytm on Tuesday said it is planning to cross Rs 20,000 crore gross merchandise value (GMV) in the education business in FY20.

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Paytm already offers Fee Payment Services at more than 10,000 educational institutions across the country.
The company is partnering with thousands of private and government institutions to offer the full bouquet of services across payments, commerce, financial and academic services, the release said.
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 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 many 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.
It is also targeting to onboard 3.5 crore users across 20,000 private schools, 1000 higher educational institutes and 1000 coaching institutes.
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