As the customers move away from desktop to on-the-go mobile model, companies are providing every amenity to be in close touch with their customers maintaining the relationship.
Riding on the mcommerce, this time, Paytm has launched a dedicated app for sellers to connect small businesses and consumers.
Paytm’s seller app will work on zero commission model and expects the number of merchants on its network to triple to a lakh by end of this year. Presently, Paytm has about 30,000 merchants now which will further grow to 10 lakh by the end of next calendar.
How will the model work?
Merchants will be allowed to stock their own inventory, do their own deliveries but will be signed up with partner logistic companies to get better deals. The model also assures that till the merchant’s own commitment on return or exchange is valid, the payment made by a customer will stay in an escrow account.
“Everyone is moving to mobile now, but that is what we started with,” said Vijay Shekhar Sharma, founder and chief executive of Paytm. “We see opportunity in enabling payments in everyday use cases.”
Paytm claims that it earns a revenue of over $500 Mn from its marketplace activities. This is expected to jump to $2 Bn along with half of Paytm’s run rate coming from mcommerce marketplace.