Paytm to spend Rs.500 crore for brand promotion

Leading mobile commerce player Paytm Friday declared it would spend Rs.500 crore this fiscal (2015-16) to promote its brand, beginning with a film campaign on the ongoing IPL.

"We are spending Rs.50 crore for marketing campaign on IPL as an associate sponsor on Sony (television channel) and as an official partner of Mumbai Indians team," the Noida-based company said in a statement.

The six-year-old technology firm plans to spend the remaining budget (Rs.450 crore) via multiple channels spanning digital, promos and advertisements in print media.

As consumer brand of mobile internet firm One97 Communications, Paytm claims to deal with 30 million orders of diverse digital and physical goods every month.

The company, however, did not disclose how much it had spent on promoting its brand in the just concluded fiscal (2014-15).

"Our app (application) enable registered users to recharge their mobile phones and direct-to-home (DTH) satellite-based television service, transfer cash and do online shopping," a company spokesperson said.

"The thematic one-minute advertisement film shows our range of services such as mobile wallet, mobile and DTC recharges, money transfer and online shopping," Paytm vice-president Shankar Nath said in the statement.

The campaign will also be relayed through radio, outdoor and other media channels over a month during the IPL season.

Venture capital firms such as SAIF Partners, Ant Financials (AliPay) and Sapphire Ventures have invested in the company.