Cashbacks galore for users, part of Paytm’s ₹100-crore Diwali marketing drive

Under Paytm's Cashback Dhamaka campaign launched to coincide with the Diwali season users can win amounts ranging from ₹1 lakh to ₹50 cashback, while paying their utility bills or transferring money etc

Digital wallets company Paytm is seeking to raise up to $2.2 billion in one of the biggest stock market listings in the country that may value it at up to $25 billion

Users of mobile wallet Paytm will be inundated with cashback offers and Buy Now, Pay Later postpaid services, as the company is gearing up to unleash a ₹100 crore marketing campaign in the country during the Diwali season. The digital and financial services firm Paytm will also strongly push promotions on UPI and wallet businesses.

Under this campaign, ‘Paytm Cashback Dhamaka’ has already been flagged off in all districts of India, and especially states like Gujarat, Maharashtra, Andhra Pradesh, Telangana and Karnataka, said media reports.

The ₹100 crore allotted for marketing campaigns in this festive season is targetted at developing the digital payments business in India. It will educate users about Paytm UPI for money transfers, Paytm Wallet and Paytm Postpaid (Buy Now, Pay Later) for spends, said Paytm in a statement, adding that their aim is to drive financial inclusion across the country. The campaign will continue till November 14.

The possibilities are exciting for users, as ten winners are eligible to bag a cool ₹1 lakh each, 10,000 winners will get ₹100 cashback, while another 10,000 users will bag ₹50 cashback. Closer to Diwali (November 1-3), users can even win up to ₹10 lakh daily. But, how can you win these prizes?

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Also read: Paytm shares see brisk demand in ‘grey’ market as company files for mega IPO

According to the company, the cashback will be provided when Paytm is used in the person’s mobile to recharge broadband DTH, pay their utility bills or if they transfer money, book travel tickets, pay credit card bills, book movie tickets, make FASTag payments, and do transactions at online and offline kirana stores etc.

In the company’s draft red herring prospectus filed for IPO, Paytm has reported the highest gross merchandise value of ₹4.03 lakh crore in the payments industry, said a Mint report. The company is seeking to raise up to $2.2 billion in one of the biggest stock market listings in the country that might value it at up to $25 billion.

Further, a company spokesperson told Mint that users turn to Paytm for payments of their utility bills, recharges, money transfers among other services but the Paytm Cashback has been launched to enable users to win exciting cashback and rewards to match the spirit of the festive season.

(The Federal does not promote Paytm or any specific brand. This is only a business trend story and readers are advised to use their discretion).

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