Paytm Mall, The digital arm of e-commerce giant company Paytm has announced its plans to introduce an umbrella of new services such as no cost EMI, Extended Warranty on products, Device Insurance and Easy Exchange across its online platform as well as offline partner stores.
Interestingly, the e-commerce arm of Paytm which received $450 million in funding from Alibaba and SoftBank is disbursing no-cost EMIs price Rs 1,000 crore throughout two million merchandise by the top of the subsequent quarter. In addition, it is partnering with 13 banks and monetary establishments for this transfer.
Now with new additions to its portfolio, the company is looking forward to driving 25 % progress in gross income for its companion retail shops and achieve a dominating market share in smartphones and consumer electronics by the end of fiscal 2018.
The company has also launched Straightforward Alternate supply throughout 7000 pin codes and an Extended Warranty services, starting at $2.92 (INR 199), across more than 75,000 partner retail stores.
Paytm Mall: Expanding it’s E-commerce Operations
Paytm mall had come to inception as a consumer shopping app in February 2017. The company has committed $5 Mn under its Retailer Inclusion Programme in August 2017 geared towards enabling sellers to generate additional sales.
Later in December, there was another news that said Paytm was planning to invest around $2.5 Bn in its e-commerce arm within the next three to five years. Talking of actual numbers, at the time of its launch, the e-commerce platform had over 140K sellers which today has risen to 10 Cr customers, 500 categories, and has already reached 39K pin codes in India, according to its website.
Paytm mall has also inked a pact with fashion and lifestyle brand Red Tape, BigBasket and logistics startup XpressBees as they continue to build their respective ecosystems in the country.
Given the disturbance within e-commerce ecosystem post mega Walmart-Flipkart Acquisition its head on competition gearing with Amazon, this is just the right time for Paytm Mall scale up its operations in the country and carve out a niche for itself in Indian e-commerce, a market currently worth $200 Bn.