Paytm Mall Plans To Set Marketplace In Middle East With Ebay

Paytm Mall Plans To Set Marketplace In Middle East With Ebay

SUMMARY

Paytm plans to expand its ecommerce marketplace Paytm Mall to the Middle East

eBay will help Paytm to expand its catalogue to the market. Paytm to do the same for eBay in India

The company has already started testing the market, says Rudra Dalmia, executive director of Paytm

After receiving eBay’s backing last month, Paytm now plans to expand its ecommerce marketplace to the Middle East, according to a report by Business Insider. The company will be building a very large business in the region, and is counting on revenue from exports, says Rudra Dalmia, executive director of Paytm.

The company has already started testing the market and the strategies in the region through the partnership with ecommerce giant eBay. The US-based eBay will be helping Paytm to offer its catalogue in the Middle East, in addition Paytm will make eBay’s inventory available to Indian consumers.

Last month, Paytm had raised $150 Mn funding round from eBay for 5.5% stake in Paytm Mall. The funding came with a $10 Mn topup raising the amount to $160 Mn. The money was received from the Singapore arm of the US-based eCommerce giant at the post-money valuation of $2.86 Bn. 

Paytm Mall is primarily focused on unbranded and inexpensive products, except electronics. On the contrary, the Middle East has always had a preference for branded and expensive products. It’s still not clear if Paytm would adopt a different strategy to expand to the market or not. 

The Middle East has proved to be a profitable market for Chinese cross-border ecommerce websites like Shein and JollyChic. The purchasing power of individuals is much higher than that of the Asian audience due to their high per capita income, making it a strategic market to expand to. 

According to PayFort’s report on ‘State of Payments in the Arab World’ released in 2016, the Middle East online payment transactions would grow to $69Bn by 2020. The report tracked the online payment transaction in the airline, travel, ecommerce and entertainment section in seven Arab markets – Egypt, Jordan, Kuwait, Lebanon, Qatar, Saudi Arabia and the UAE.

You have reached your limit of free stories
Unlock The Ultimate Startup Intelligence With Inc42 Plus

Join 10,000+ Startup Founders & Leaders And Gain The Ultimate Startup Edge

Prices Increases In
countdownmail.com
2 YEAR PLAN
₹19999
₹5999
₹249/Month
UNLOCK 70% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹3499
₹291/Month
UNLOCK 65% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Paytm Mall Plans To Set Marketplace In Middle East With Ebay-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Paytm Mall Plans To Set Marketplace In Middle East With Ebay-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Paytm Mall Plans To Set Marketplace In Middle East With Ebay-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Paytm Mall Plans To Set Marketplace In Middle East With Ebay-Inc42 Media
Paytm Mall Plans To Set Marketplace In Middle East With Ebay-Inc42 Media
You’re in Good company