Paytm, an Indian-based digital wallet and e-payment system, is poised to draw more customers after it was announced that the company’s mobile app now features rummy and fantasy sports, Glaws.in reported.
These new offerings come as a result of a joint venture between Paytm, One97 Communications Limited, and Alibaba-backed AGTech. Paytm customers can access these new features through Paytm’s homepage.
Founded in 2010, Paytm is an Indian-based digital wallet and e-payment system. Paytm users can play for a variety of goods and services such as mobile plans, utility bills, and groceries. Users can even book their travel and purchase tickets to events. Over 7 million Indian merchants accept Paytm and the company is valued at $10 billion.
Paytm’s fantasy sports app, Gamepind, was created by Vinfotech, which is an Indore-based software developer offering DFS games for cricket, football, and kabaddi. Neither of these new additions are currently available for real money but Paytm and Gamepind plan to offer real-money portals in the near future. However, those who use the fantasy sports app can play it using “beans” which can be bought through Paytm. Aside from the newly released fantasy sports and rummy, other games including trivia, ludo, and several other social games are available on the Gamepind platform.
Playtm announced last year that it had entered a partnership with AGTech to launch Gamepind. Paytm owns a 55% stake in the company while AGTech holds the other 45%. Both companies invested $16 million into the project. Paytm is one of the world’s largest eCommerce firms and is the largest Indian company to join the skilled gaming fray.
Rummy is a very popular game in India and several sites offer the game for both fun and for real money. Unlike online poker which remains in a gray legal area, online rummy is widely accepted as a game of skill which means that it is legal in many of India’s 29 states and seven union territories. Sites like Rummycircle and Junglerummy have been operating successfully in the country for a while. Playtm’s entrance into the rummy space appears to be well-timed as online rummy in India is booming.
Another gray area is fantasy sports. It is viewed as gambling in some regions while other states consider it to be a game of skill. Punjab and Haryana high courts recently ruled that fantasy sports are indeed games of skill and judgment. This is good news for fantasy sports fans in India as well as the companies that are looking to secure a piece of the pie. While Playtm has not announced any plans to offer eSports, there is a distinct possibility that they will in the future as eSports continues to boom.