eBay Inc., a global commerce leader announced an agreement that will make eBay inventory accessible to tens of millions of Paytm Mall active customers in India. Additionally, eBay is making an investment of $150 million in Paytm Mall and will own approximately 5.5% of the company.
“We are deeply committed to India and believe there are huge growth potential and significant opportunity in this dynamic market,” said Jooman Park, eBay Senior Vice President, APAC. “This new relationship will accelerate our cross-border trade efforts in a rapidly growing market, providing hundreds of millions of Paytm and Paytm Mall customers with access to eBay’s unparalleled selection of goods.”
Paytm Mall makes international purchases frictionless for customers in the Paytm ecosystem. Through technology and strategic partnerships, Paytm Mall has been able to overcome the challenges that cross-border trade presents, such as high delivery costs, returns and long timelines, while ensuring that regulatory requirements are met, including the payment of customs duties.
“Today’s Indian consumers have expanded their horizon and now like shopping for unique products from international platforms,” said Rudra Dalmia, Executive Director, Paytm Mall. “This new strategic collaboration will ensure Indian consumers are given greater access to eBay’s vast selection of inventory. We’re excited about this relationship with eBay as our cross-border partner and investor and believe together, we will provide buyers and sellers an unparalleled opportunity to discover, engage and transact on our platform.”
The new relationship between the two companies provides eBay sellers the opportunity to reach new customers in a rapidly growing market, while providing Paytm Mall buyers a wide selection of global inventory that would normally be out of reach locally. In the coming weeks, millions of products sourced from eBay sellers around the world will be surfaced on the Paytm Mall shopping experience within the Paytm ecosystem.
In the months since launching eBay.in in early January, eBay has turned its attention to enabling India’s small and medium sized businesses to sell their products to eBay’s 182 million customers around the world.
“We are excited about our new relationship with Paytm Mall. This reinforces our commitment to invest in India and complements our existing import, export and domestic platforms,” said Park.
Paytm Mall is part of India’s largest digital ecosystem, Paytm, which has over 450 million registered customers, over 130 million active users and over 12 million registered merchants.
“Paytm Mall has always believed that the cross-border opportunity is a hugely untapped and logical growth path as technology continues to shrink the world,” said Srinivas Mothey, CMO Paytm Mall.