If flights are canceled 24 hours before the scheduled departure time and buses at least four hours before the scheduled departure time, the customer can claim a 100 percent refund with ‘Cancel Protect’ for trips canceled through Paytm. There is no limit to the amount of refund available with ‘Cancel Protect’. On cancellation the fare will be instantly credited to the source account. Paytm said in a statement. Customers can purchase ‘Cancell Protect’ starting at a premium of Rs 149 for flight tickets and Rs 25 for bus tickets.
“Customer friendly product features have already been introduced in the Paytm app. It has greatly simplified the travel booking experience and catered to the needs of Indian travellers. Paytm’s Cancel Protect is the perfect solution for customers looking for a flexible and convenient way to protect travel plans. Along with the convenience of ticketing, Paytm offers users great deals and discounts on travel bookings. This helps customers save more.
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In other news, China-based e-commerce platform Alibaba sold 3.1% stake in Paytm. The company sold the remaining direct stake in the mobile payment platform through block deals on the NSE for around Rs 1,377 crore. According to NSE data, Morgan Stanley Asia (Singapore) bought 54 lakh shares worth about Rs 347 crore in the 2.1 crore share block sold by Alibaba.
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