Cancel movie tickets and get refund with Paytm's new feature

Mumbai: It is such a bummer every time a friend cancels on a movie plan at the last minute and the money goes to a waste, right? Well, Paytm’s Cancellation Project Allows you to cancel tickets up to three hours ahead of the scheduled show timing by charging you only Rs 9!

Paytm which launched its movie ticket booking services in April, 2016 broke BookMyShow’s dominance over the business. According to media reports, Paytm revealed that the movie ticket booking business brought in a gross merchandise value (GMV) of Rs 400 crore.

Paytm has a tie up with various multiplex chains like PVR, Inox, Carnival and Cinepolis. It plans to add 3,000 screens in 2017.

BookMyShow had introduced a feature where one could book tickets up to three hours before the show time. It however, does not refund the money. Paytm's Cancellation Project is expected to give a huge boost to its movie-ticketing business and also give BookMyShow some serious competition.

Paytm also recently acquired a majority stake in event-curating website Insider.in. Paytm may be eyeing foraying into the event booking business like BookMyShow does already.