Paytm now Opens a ‘Mall’ on your Phone
Mumbai: Paytm, which was demerged from mobile wallet and payments player One 97 Communications, has launched a separate smartphone application and website for the online marketplace business. The platform called Paytm Mall, inspired by Alibaba’s business-to-consumer portal TMall, will focus on structured categories and brand-authorised stores with a focus on electronics, top fashion brands and FMCG categories. The launch of the application comes as Paytm is raising new round at this demerged entity, which will give Chinese ecommerce major Alibaba and payments affiliate Alipay a combined majority stake. ET reported on February 3 that Paytm is expected to raise $200-250 million. Paytm has launched its new app Paytm Mall on Android and a website called paytmmall.com. It will offer a combination of the mall and bazaar concepts to consumers.
The marketplace has 1.4 lakh sellers with over 68-million products across categories like fashion, electronics, consumer durables and home furnishings among others. “We have defined the quality criteria for sellers and are building strict controls over warehousing and shipping for products sold on Paytm Mall,” said Saurabh Vashishtha, Vice President at Paytm. Paytm Bazaar, the unstructured shopping channel on Paytm, will provide consumers a wide range of domestic and international assortments and both concepts will use debit/credit cards, net banking, Paytm and UPI as modes of payment.
Paytm Mall has over 17 fulfilment centres across India which have been set up by partners and sellers.
Paytm has launched its new app Paytm Mall on Android and a website called paytmmall.com