Mobile commerce firm Paytm will invest Rs 500 crore over the next four years for branding and promotion across sporting events.
One97 Communications, owner of Paytm, has already acquired the title sponsorship rights for India's matches at home for a period of four years for about Rs 203 crore.
"Sports, and especially cricket, is an important category in India. Branding and promotion during important sporting events is a great way to connect with the audience and we are committed to this.
"In four years, we plan to spend about Rs 500 crore," Paytm Senior Vice President Shankar Nath told PTI.
The rights include sponsor branding of series with the title sponsor logo, designation as the title sponsor of the series, visibility at the stadium, and broadcast sponsorship rights.
"With nearly 84 matches scheduled over the next four years with all major countries playing in India, we are hopeful that Paytm will be able to build a strong and strategic association with cricket," he said.
He added that apart from BCCI, Paytm has also taken the on-air co-presenting sponsorship TV rights on Star.
"This will entitle Paytm to a significant on-air presence on the channel's SD & HD feeds through ad seconds, push-backs etc, all of which enhance the brand's awareness during the course of the series," he said.
Paytm offers mobile recharge, utility bill payments and mobile wallet services.
The company saw 2-3 times jump in both traffic and transaction volumes after the promotion during World Cup and IPL.
Nath said the company is also exploring sponsorship opportunities in other sports like football, kabaddi and badminton.
