Digital wallet leader Paytm has finally launched its online shopping app Paytm Mall. The ecommerce player spun off its marketplace platform last year to make way for Chinese ecommerce giant Alibaba. With the launch of its shopping app, Paytm has now two separate ecommerce businesses – payments/e-wallet and online shopping portal. Also, it is regarded as Alibaba’s official entry into Indian ecommerce industry.
Speaking about the launch of its ecommerce app, Saurabh Vashishtha, VP at Paytm shared,
“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.”
What do we know about Paytm Mall?
- It’s an upgraded version of Paytm’s ecommerce platform
- Its first funding round is just around the corner
- At present, 68 million products are available on the app
- 140,000 sellers are listed
- 17 fulfilment centres and 40 courier partners
- International sellers may also sell via Paytm Mall
- No cash-on-delivery (COD) option
- Structured categories and brand authorized stores would enjoy the spotlight
- The portal is actively seeking SMEs with keen interest in exploring mobile ecommerce
A company insider revealed,
“Paytm would play on Alibaba’s strength. For products the company would bring in sellers from Lazada, sellers from other countries as the Chinese major’s ties in US and Europe. The operations would be 10 times of what Paytm’s operations are right now in the next two years.”
Paytm reshuffles top management
A shift in the business model and launch of a new entity calls for a strong team that can effectively manage the day-to-day operations. For the same, Paytm is busy shifting many of its managers from Paytm wallet to Paytm Mall and vice versa.
Sudhanshu Gupta has moved to the digital payments arm. Two other vice presidents Amit Bagaria and Saurabh Vashishtha associated with its payments business would now look after the online shopping portal.
The Alibaba-backed company is reshuffling its management team to prepare for the stiff competition coming its way in the form of Amazon and Flipkart. As for Snapdeal, speculation is running high that it may soon merge with Paytm.
Sellers, are you excited about selling on Paytm Mall? Let us know through your comments.