Separated from a mobile wallet and payments player One 97 Communications, Paytm has launched a separate website and smartphone application for the online marketplace business, Paytm Mall.
Inspired by Alibaba’s business-to-consumer portal TMall, the Paytm Mall will focus on brand-authorised stores and structured categories with a focus on top fashion brands, electronics, and FMCG categories.
The launch of the Paytm Mall comes when Paytm is raising a new round at this demerged entity that will give a combined majority stake to Chinese e-commerce major Alibaba and payments affiliate Alipay.
The new Paytm Mall app is available on Android and a website called paytmmall.com as well. Paytm Mall will offer an amalgamation of the mall and bazaar concepts to consumers.
With over 68-million products across categories like electronics, consumer durables, fashion and home furnishings, among others, the marketplace has over 1.4 lakh sellers.
“We have defined the quality criteria for sellers and are building strict controls over warehousing and shipping for products sold on Paytm Mall,” said the Vice President at Paytm, Saurabh Vashishtha.
The unstructured shopping channel, Paytm Bazaar will provide consumers a varied range of domestic and international collections, and both the concepts will use debit/credit cards, net banking, Paytm and UPI as modes of payment.
The Paytm Mall has over 17 fulfillment centers across India, which have been set up by sellers and partners.
Copyright 2017, Insights Success. All rights reserved.