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BookMyShow invests in AtomX to strengthen its digital payments side

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BookMyShow is a company which has grown to the extent of becoming a commodity in India. The company has become a common platform for the Indians to book tickets online. The company started out as a movie ticket booking company but has now moved on to events and other things as well. It has a lot of potentials to grow as there are a lot of platforms the company can move into.

BookMyShow has been moving forward with time as the growth was seen in non-movie bookings and nothing more. The revenue of the company also grew to INR 391 Cr in the year 2018 which was huge even though the losses were increased.

That being said, the company was looking at various payments platforms so that it could improve the cashless experience of the user. BookMyShow finally narrowed it down to one startup from Pune named AtomX. AtomX is a payments technology company and has raised capital from BookMyShow. The amount of funding AtomX received has been kept under the envelope but it will be a step in the right direction for both the companies.

Abhilash Gowdara, AtomX CEO and Founder talked about the technicality of the same. He said that the company is looking to combine the online and offline payments so that the events or entertainment concerned people could accept contactless bank-issued cards.

He said, “We are looking to unify both online and offline payments, enabling live entertainment events to accept contactless bank-issued cards beyond our close loop tags which offer users multiple options to tap and pay at all our live events.”

BookMyShow wants to improve its payment interface and go cashless and AtomX has the solutions so it is a perfect combination. Ashish Hemrajani, founder and CEO of BookMyShow also said the same. He talked about the company’s ambition and its attention to better the user experience. He also talked about how AtomX will play an instrumental role in achieving the company’s goal.

He said in a press release, “As we broaden the out-of-home entertainment ecosystem, we continue to improve every aspect of that customer journey. This includes safer and smoother digital transactions both while buying tickets and for on-ground services. We also strive to provide relevant data analytics, insights around events to vendors and organizers to better deliver the experience to our customers. Our partnership with AtomX will play an instrumental role in furthering this experience.”

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