Paytm First subscription-based loyalty programme was launched on Tuesday, with the aim to increase customer retention. The new model, which takes on Amazon's Prime subscription and Flipkart's Plus membership, offers a subscription to services such as Zomato Gold, Gaana, Sony Liv, ViU Premium, and Eros Now. Currently, Paytm First subscriptions are available via the Android app, with the iOS app set to receive it soon.
The Paytm First subscription is available at an annual charge of Rs. 750. It also includes benefits on Uber and Uber Eats services. Paytm is also touted to provide over Rs. 1,500 worth of cashback to customers opting for the Paytm First membership. Further, there will exclusive offers specifically for Paytm First customers on Paytm Mall along with unlimited free and priority shipping and access to priority 24x7 customer care
Competing against Amazon Prime and Flipkart Plus, the Paytm First offers annual subscriptions to Gaana, Sony Liv, and Eros Now. Customers would also receive Zomato Gold membership and ViU Premium as well as Uber benefits up to Rs. 6,000 and Uber Eats benefits up to Rs. 2,400. Furthermore, Paytm claims that its new model provides partner offers worth more than Rs. 12,000.
In addition to the partner offers, Paytm First customers will also get over Rs. 1,500 cashback, including Rs. 100 cashback on movie ticket booking each month. The programme is also designed to provide exclusive shopping offers on Paytm Mall with unlimited free and priority shipping.
Paytm First customers loyalty programme will be made open to all Android app users by the end of March 5, Deepak Abbot, Senior Vice President, Paytm revealed. As for the iOS app, users can expect a release on March 6, he added. Customers can subscribe to the Paytm First programme by paying Rs. 750 annually. However, as an introductory offer, Paytm is giving cashback worth Rs. 100 for a limited time.
"We are happy to have partnered with leading players from their respective verticals during the initial launch phase itself, and we will continue to expand the Paytm First programme with more benefits and value to our customers," Abbot said in a press statement.
Paytm is primarily aiming to increase customer retention through the Paytm First programme. Also, it is set to sell over three million Paytm First subscription within the first year of its launch.
Disclosure: Paytm's parent company One97 is an investor in Gadgets 360.