Paytm launches new online market Paytm mall after crossing 200 million users
Listed with 68 million products from 14,000 sellers, Paytm Mall has been launched as an Android app after successfully crossing the 200 million users mark. As per initial vibes received, Paytm Mall targets hot selling categories within online shopping, such as FMCG products, electronics and apparels from domestic and international brands. Besides, a separate section called Paytm Bazaar will focus on high-value products such as home furnishing etc.
According to ET, the launch of the application comes as Paytm is aiming to raise a new round for this demerged entity – Payments bank and ecommerce platform – which will raise the combined majority stake of its major investors Chinese ecommerce major Alibaba and payments affiliate Alipay.
There is a strict quality guidelines and qualification criteria which sellers have to pass to use the platform. All products listed on the mall will also go through a Paytm-certified warehouse and shipping channels ensuring guaranteed consumer trust. With over 17 fullfilment centres across India, the platform also plans to offer sellers the widest reach through its vast network of over 40 courier partners.
Saurabh Vashishtha, VP-Paytm,said in a statement, “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.”
The battle lines have been clearly drawn, when it comes to e-commerce marketplace: It is Flipkart vs Amazon Vs Alibaba, and the first shots have been fired. The competetion is really neck to neck, while the e- commerce markets are fighting hard to maintain their place, the consumers enjoy the unlimited benefits showered upon them.