World News: 14:58 GMT Wednesday 14th December 2016. [Eros International PLC via Businesswire via SPi World News]
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, has entered into 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. 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.
Source: * Reserve Bank of India (RBI)
**Ernst & Young LLP Report ‘The Case for Mobile Payments in India’, http://www.ey.com/Publication/vwLUAssets/EY-the-case-for-mobile-payments-in-india/%24FILE/EY-the-case-for-mobile-payments-in-india.PDF
About Eros Now
Eros Now is Eros International Plc’s leading on-demand Bollywood entertainment network accessible anytime, anywhere, on most Internet-connected screen including mobile, web, and TV. Eros Now offers its 55 million registered users worldwide the promise of endless entertainment hosting one of the largest libraries of movies, as well as premium television shows, music videos and audio tracks, unmatched in quantity and quality. Product features, such as video in HD, subtitles in English and Arabic, movie downloads, and high quality original drama series differentiate the Eros Now entertainment offering. To see, watch now: www.erosnow.com
About Eros International Plc
Eros International Plc (NYSE: EROS) is a leading global company in the Indian film entertainment industry that acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media. Eros International Plc became the first Indian media company to list on the New York Stock Exchange. Eros International has experience of over three decades in establishing a global platform for Indian cinema. The Company has an extensive and growing movie library comprising of over 3,000 films, which include Hindi, Tamil, and other regional language films for home entertainment distribution. The Company also owns the rapidly growing OTT platform Eros Now. In 2015, 3 out of the top 4 box office films and 7 out of the top 15 box office films were from Eros. For further information, please visit: www.erosplc.com.
Business Wire: 14:58 GMT Wednesday 14th December 2016
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