Digital payments company Paytm is broadening its gamut of services within the education sector. The company has entered into partnership with several public and private institutions for offering a range of services covering payments, commerce, academic and financial services.
At present the company offers fee payment service to more than 10,000 educational entities in India and aims to achieve Rs. 20,000 crore GMV in the education business space alone in the fiscal year 2020, said the company.
The company will cater to the requirements of the students as well as government job aspirants. "We want to enable the student and parent community to know in advance what they should do to build their career. Right from providing details on 25,000 colleges, 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, banking)," said Vineet Kaul, senior vice president - Paytm.
The company in tie up with government and private educational institutions will offer admission forms, exam results, applications for government jobs, coaching and test preparation. Also, the company will provide financial assistance as educational insurance, loans as well as co-branded smart cards to students.
For its education related offerings, the digital payments leader has partnered with institutions including the Railway Recruitment Board, Maharashtra Public Service Commission, National Testing Agency, Indian Navy, Amity, VIT, Manipal, AKTU, Army Public Schools.