After seeing an unmatchable success with its mobile wallet, Paytm is now expanding its reach in the e-commerce segment. While the Paytm app itself offered a bunch of booking, buying and renting facilities, the company has now launched a dedicated app and website, Paytm Mall, for the online marketplace business. Presently, the app is only available on Android, but is expected to be launched on iOS soon. Also Read - How to book COVID-19 vaccine slot via Paytm App, get Covaxin and Covishield shots with these simple stepsAlso Read - Alert! Paytm cashback scam: Fake Paytm website, it's a trick to steal your money
Paytm Mall has over 1.4 million sellers on board for the platform, across categories like fashion, electronics, consumer durables and home furnishings among others. Also, reassuring quality standards, Paytm claims that only trusted sellers passing strict quality guidelines and qualification criteria will be allowed on the ‘Mall’. All products listed on the mall will also go through Paytm certified warehouse and shipping channels ensuring guaranteed consumer trust. Also Read - 5 apps helping people get through the COVID-19 second wave: Twitter, CoWIN, Aarogya Setu
Additionally, with Paytm Mall, the company aims to offer a unique combination of the Mall and Bazaar concepts to Indian consumers. Basically, Paytm Mall will focus on structured categories and brand authorised stores. It will also be focusing on electronics, top fashion brands and FMCG categories, while another section under Paytm Mall called Paytm ‘Bazaar’ will focus on fashion, home furnishing and goods from small sellers.
Although, when you look at the Paytm Mall app, at least right now, it looks like a replica of the Paytm app, just without the wallet access. Now you would assume that considering the Paytm Payments Bank are soon awaiting a rollout, and just in time for that the Paytm Mall app has been launched, it would sort of make sense to have separate apps for payments and e-commerce. However, a Paytm representative confirmed that the Paytm app would continue to offer the buying, booking and renting service, while the similar service would be available on the Paytm Mall app too. ALSO READ: Paytm registers transactions worth Rs 5,000 crore in January, 2017
Essentially, you could shop from the Paytm app and use the wallet right there, or you could use the shopping portal as a standalone app. For payment, it eventually asks you to login to Paytm, though it does give you options to make payments via debit card, credit card or netbanking.
Through Paytm Mall, our aim is to offer consumers the most trusted shopping experience. We have defined quality criteria for sellers and are building strict controls over warehousing and shipping for products sold on Paytm Mall. Consumers would continue to get the largest assortment of domestic and international products through Paytm Bazaar, which will also be featured on the new app, said, Saurabh Vashishtha, the Vice President of Paytm.
Besides the Paytm Mall, a an upgraded version of the simple and intuitive Paytm Seller app is also scheduled to launch, which would be available in seven regional languages and would allow anyone with a smartphone to set up an online shop on Paytm Mall. ALSO READ: Paytm could soon overtake card transactions in the country: Vijay Shekhar Sharma
Paytm’s focus on the e-commerce segment comes amid its plans to roll out its payments bank. Vijay Shekhar Sharma had said that the company will be launching the payments bank by this week. “We want to expand this to deposits and current accounts. I think 2017 will be the year for us to expand into banking. We have to build distribution, reach and customer base, Sharma had said. The company will most probably separate the e-commerce business from its main app, which will make the transition to the payments bank.
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