New Delhi [India], Mar. 7 : Digital payment gateway Paytm announced a 'zero cancellation charge' policy that will allow users to claim 100 percent refund on their bus tickets, even if they cancel the ticket as late as six hours before departure.

For a nominal fee starting from Rs. 34 per ticket, customers will have the option of planning their trips well in advance without the fear of exorbitant cancellation charges in case of any last minute changes. The additional fee would go as a premium to Paytm's insurance partner and enable instant refund to customers' Paytm wallet in case of ticket cancellation.

"Our goal has always been to constantly innovate and provide consumers unique solutions at an affordable cost. Introducing zero cancellation charge on bus ticket bookings will help thousands of consumers book their travel well in advance as they would not have to worry about high cancellation charges in case of changes in their travel plan," said Abhishek Rajan, Vice President - Paytm.

Paytm's travel marketplace enables users to search and compare buses, select their preferred seats and book bus tickets in a fast, secure and convenient manner.

The travel vertical has registered exponential growth in the recent months, with its bus ticket business turning break-even. With this latest initiative, the company is inching a step closer to its vision of building the country's largest cashless travel ecosystem. (ANI)