Mumbai : Eros International PLC (NYSE: EROS) (“Eros”), a leading global company in the Indian film entertainment industry, announced today that Eros Now, its cutting edge digital over-the-top (OTT) platform, announced today a strategic partnership in India with Paytm to enable Eros Now subscribers to make easy and hassle free payments using the e-wallet service.
The number of transactions conducted using e-wallets in India has doubled during 2014-16, evidencing the increasing popularity of e-wallet transactions*. The size of mobile money transactions is expected to reach US$780 billion by 2017 globally, and more than 85% of point-of-sale (POS) systems are expected to accept contactless payments by 2016**.
Commenting on the association, Rishika Lulla Singh, CEO, Eros Digital said, “E-wallets are becoming vastly popular, especially with India’s youth, as they provide on-the-go, convenient payments. Especially post demonetization in India, there has been a high surge in mobile and digital payments as we move towards a digital economy along with a rise in internet penetration and smartphone usage; we are excited to join hands with India’s largest mobile payments and commerce platform, Paytm to provide safe, transparent, and easy payments. This association furthers our strategy to continue providing a seamless experience and endless entertainment to our two million paid subscribers and over 55 million registered users worldwide”.
Through Paytm, owned by One97 Communications Ltd. users can now make convenient payments to subscribe to Eros Now to access its rapidly growing repository of premium Bollywood and regional content including movies, music, television shows and originals. With an existing library of 5,000 films and an additional 5,000 films being added, Eros Now will offer the widest collection of premium Indian movie content across any OTT platform in the world.