Sunday, November 17

Tag: PAYTM MALL

Paytm Launches Cashless Store in tie-up with Red Tape
15Feb By Sabhyata AgarwalNo Comments
News

Paytm Launches Cashless Store in tie-up with Red Tape

The Indian e-payment application Paytm that acts as an ultimate saviour in times of limited or no physical cash, has now introduced a new feature for its users, adding to its previous long list of characteristics. The Payment through Mobile platform which enables its registered users to recharge, pay&receive, book tickets and buy products and services on discount through the Paytm Mall, have now added one more feature that can vividly provide a customer "Offline as well as Online experience at the same time."   This concept is launched in collaboration with REDTAPE, a multi store offering wide range of products like apparel's, accessories, footwear etc. This concept lets a user visit the store physically, choose the product by confirming the size and cost, and then bu...
Read More
A Guy Orders Rs 33,000 Smartphone, What Was Inside Will Surprise You
29Dec By RishabhNo Comments
News

A Guy Orders Rs 33,000 Smartphone, What Was Inside Will Surprise You

Lately e-commerce sector has seen a boom in India. People are openly accepting it because its more about convenience and save a lot of time. These e-commerce websites often offers lucrative discounts to attract customers, but what is happening at the back-end is fraud. A similar case of fraud was brought up recently by Indiatimes where a user, Rakesh Chabaria from Mumbai ordered a smartphone online. On 23 December, when the parcel was received, he was shocked to see what was inside. Rakesh had ordered a phone but what was inside was beyond his expectations. We all have heard some news related to it but he never thought it would happen to him as well. Inside the box, instead of a smartphone was a big stone! The package that he received on December 23 was already very untidy ...
Read More
SoftBank In Talks To Invest $500M In Paytm Mall
28Nov By AdityaNo Comments
FUNDING

SoftBank In Talks To Invest $500M In Paytm Mall

After investing in Indian e-commerce majors Flipkart and Snapdeal, Japanese multinational conglomerate SoftBank Group is now set to invest in another Indian e-commerce space Paytm Mall. It is estimated that Paytm Mall may receive a funding around $500-600 millions in a fresh round. As per the reports, SoftBank will put around $300 million into the e-commerce venture operated by Vijay Shekhar Sharma's Paytm E-commerce Pvt Ltd. Paytm Mall has already received funding from Chinese e-tailing company Alibaba, which now holds a majority stake in the company. Also, SoftBank is one of the investors of One97 Communications, the parent company of Paytm wallet and holds around 20 percent. The telecom conglomerate already holds majority stakes in Snapdeal, which it tried to merge with Flipkar...
Read More
Paytm Crossed Rs 10,000 Cr Transactions This Diwali Season
24Oct By PriyankaNo Comments
News

Paytm Crossed Rs 10,000 Cr Transactions This Diwali Season

Paytm on Monday said that transactions on its platform crossed $1.6 billion during the Diwali season, which was three-and-half times more than it did last year. Volumes during the month-long period ended 20 October were driven by the food and transportation categories, while increase in payments at mom-and-pop stores through the Paytm app also contributed to the surge, the company said in a statement as per the source Mint. “Mobile payments have become mainstream over the last few quarters. Owing to the convenience and security, people prefer Paytm to card and other modes of payments,” Paytm chief operating officer Kiran Vasireddy said in the statement. According to the data from RBI the net transactions in the month of August touched Rs 45,710 crore through Debit and Credit cards, Rs...
Read More
Paytm Mall Reports Net Loss of Rs 13.63 Cr in 2016-17
10Oct By AnkitaNo Comments
BUSINESS

Paytm Mall Reports Net Loss of Rs 13.63 Cr in 2016-17

Paytm Mall reported a net loss of Rs 13.63 crore on total sales of Rs 7.35 crore between August 2016 and 31 March 2017, as per the filings with Registrar of Companies (RoC). Total expenditure was Rs20 crore, while reserves and surplus stood at Rs1,284 crore, the filings showed. Paytm Mall spun off as a separate entity earlier this year and stated that since it has recently started its operations, it should not be seen as a loss but an investment. "These are the initial years for Paytm Mall and we have a long-term perspective on building a successful tech business. We will help customers receive the same trusted retail experience synonymous with our brand and act as a technology enabler for the country's massive offline retailer community. We will achieve this with our first-of-its-k...
Read More
Paytm Mall To Invest $35 Mn To Further Strengthen Its Logistics Network
22Aug By AnkitaNo Comments
CHINA

Paytm Mall To Invest $35 Mn To Further Strengthen Its Logistics Network

Paytm Mall is planning to put more money(around $35 million) to strengthen its logistics infrastructure, technology and add more product offerings to further strengthen its position in the market. "Paytm Mall is now expanding its logistics support by servicing demand with local supply to service same-day and next-day deliveries,” the company said in a statement. In the first phase, the company had limited its offerings to electronic goods and appliances across 25 cities. Now, it plans to expand its footprint to 100 cities and add other categories of merchandise as well. “We aim to build a trusted and highly-efficient logistics network to help local shopkeepers offer more convenient shopping experience to customers and enable brands to save up to 50% on logistics, as they will be able to...
Read More
Paytm Further Delists Logistics Partners To Improve Customer Experience
26Jul By RishabhNo Comments
News

Paytm Further Delists Logistics Partners To Improve Customer Experience

Ecommerce platform Paytm Mall has once again made amendments in its quality control and to get things in order by delisting 6 out of its 14 logistics partners and 30 courier aggregation centres, and restricted delivery to 17,000 pin codes instead of 26,000 pin codes. Paytm cited customer experience and inability to meet service level agreements by the delisted logistics partners as reasons for the decision taken in response to an audit conducted by the marketplace. "None of the logistics partners which have been delisted are venture capital-backed," Sinha said. “We believe, working with fewer retailers and pin codes that leads to a superior customer experience is more important than rapid expansion,” said Amit Sinha, chief operating officer of Paytm Mall. Paytm had revamped its platfo...
Read More
Paytm Mall Revamps Seller Platform, Delists 85,000 Vendors, Focuses On Quality
17Jul By PriyankaNo Comments
News

Paytm Mall Revamps Seller Platform, Delists 85,000 Vendors, Focuses On Quality

Paytm Mall, the online retail arm of Paytm e-Commerce, has flushed out about 85,000 sellers that did not meet its new quality standards. According to Paytm, the move was part of its strategy to revamp its seller registration and on-boarding process to enhance its user experience on its platform. According to the company’s new policy, sellers will now have to mandatory furnish brand authorization letters before being able to sell their goods on the online platform. They will also have to submit their registration number, shop location and photos, and goods and services tax identification number in order to list their products on the platform, Paytm said. While the move comes a fortnight after the GST kicked in, Paytm maintains that the move to delists sellers is independent of the imp...
Read More
Amit Sinha Appointed as a Chief Operating Officer of Paytm Mall
13Jun By PriyankaNo Comments
News

Amit Sinha Appointed as a Chief Operating Officer of Paytm Mall

Amit Sinha has been appointed the Chief Operating Officer (COO) of Paytm Mall. He will now be responsible for its overall operations, including expanding its team to ensure customers across India are able to buy the widest range of products and accept deliveries through our efficient partner logistics network. Amit was serving as the Sr. Vice President of Business in his earlier role. He has looked after HR & financial processes and has been with Paytm since 2008, helping build several new businesses. “Our goal is to build the country’s largest platform that enables trusted partners including brand and merchants in growing their business. We are innovating on multiple aspects of business and offering newer business opportunities for sellers”, said Amit. Paytm have de-merged it...
Read More
Paytm Mall Surpasses Rs 100 Crore Sales in Two Wheeler Category
6Apr By Press Trust of IndiaNo Comments
News

Paytm Mall Surpasses Rs 100 Crore Sales in Two Wheeler Category

Paytm today said its e-commerce platform, Paytm Mall, has crossed sales of Rs 100 crore from the two-wheeler category. "Paytm Mall has noted a massive surge in two-wheeler sales over the last year as sales figures crossed Rs 100 crore. The company is currently witnessing over 3X quarter-on-quarter growth in the number of vehicles sold," Paytm said in a statement. Launched in February 2016, Paytm Mall's two-wheeler booking platform includes offerings from brands like Suzuki, Honda, Hero and Yamaha, among others. The company sold 50,000 units in 2016. The aim is to sell over half a million two-wheelers this year, the statement said. "Our goal is to partner with offline stores by helping them grow their business online rather than to cannibalise their sales. We aim to bring brand ...
Read More