New Delhi : A joint venture of AGTech Holdings Limited ("AGTech"), an integrated games and entertainment company in China and Paytm, a mobile-first financial services platform announced the official launch of Gamepind, a mobile platform offering a host of social and casual games.
Through Gamepind, available both through the Paytm app and as an independent app, the company aims to tap into the significant potential of the fast-growing mobile entertainment market in the country.
Gamepind complements the Paytm ecosystem by enhancing its customer experience through a rich portfolio of games and entertainment content including casual games, contests and sports games, combined with a unique and engaging shopping experience. In addition, Gamepind is the ideal marketing and promotional platform for merchants to engage with consumers in a truly differentiated way.
India's entertainment industry is on the cusp of a robust growth phase driven by increasing mobile internet usage over the last decade, with the internet fast becoming a mainstream media for entertainment for many of its 1.3 billion population.
The launch of this mobile entertainment product signals AGTech's first major international initiative expanding its footprint in the Indian subcontinent since becoming a member of the Alibaba Group.
The joint venture will also broaden Paytm's offerings by integrating an additional dimension of entertainment and driving deeper consumer engagement.
AGTech has a 45 percent stake in the joint venture while Paytm owns a 55 percent stake.
"A member of Alibaba Group and Ant Financial Group, we have been active in looking for international expansion opportunities capitalising on the vibrant ecosystems of Alibaba Group and Ant Financial Group. As AGTech's first strategic international expansion, this joint venture lays the foundation for future collaborations as the company continues to globalise its business by strategically working with leading local partners in overseas markets," said John Sun, chairman and chief executive of AGTech.
"India's young consumers are experimenting and discovering more entertainment options on mobile. Mobile game is therefore growing in the country and becoming big with mobile users. AGTech's expertise and experience in global mobile game market will help us accelerate our plans in game and entertainment business and bring exciting content to our users," added Paytm founder and CEO Vijay Shekhar Sharma.