With an aim to disseminate its presence into the digital gaming and entertainment market in India, Paytm, a digital payment unicorn startup has collaborated with Singapore’s Codashop, an entertainment/ gaming top-up platform, reported Inc42.
The partnership will also allow Codashop users to make their purchases online using Paytm’s payment gateway.
Puneet Jain, senior vice president of Paytm, said that the online gaming and entertainment segment has always been their growth potential, and through this alliance, the company is said to enrich the experience of Indian users.
Based out of Noida, Paytm was founded in 2010 by Vijay Shekhar Sharma with an aim to bring an ease in the digital payments ecosystem across India.
Whereas, Codashop was founded by Bobby Choi, Neil Davidson and Paul Leishman in 2011. The company helps digital content providers monetise their products and services in more than 20 emerging markets.
“India’s mobile gaming market is estimated to grow from $1.1 Bn in 2018 to $2.4 Bn in 2020, at a compound annual growth rate (CAGR) of over 49%, and we believe that this partnership with Paytm will further help us expand and grow our presence across India,” said Philippe Limes, the CEO of Codashop (Coda Payments).
Limes further said that the Indian youth these days prefer mobile devices because of its flexibility, easy accessibility and convenience.
“Codashop’s rich portfolio of games and entertainment content will complement with Paytm’s deeper consumer engagement, and help us accelerate our plans in the Indian digital gaming and entertainment industry,” Limes added.
In the growing line of Paytm, other startups under a similar roof include Fircent, LenDenClub, IndiaMoneyMart, Monexo, LoanBaba, CapZest, and i2iFunding.