After Oxigen Services, Paytm has now taken the decision to hive off its online businesses, which includes its digital wallet and mcommerce into separate apps.
The current app will be morphed into an ecommerce app focusing on shopping and will prompt users to download the independent app for wallet use. However, the company will continue to offer wallet option for some time on the current app.
For now, Paytm is running the second app for digital wallets on pilot, which will be launched in January next year.
Founder and CEO of Paytm, Vijay Shekhar Sharma said that the payments market has reached the long-tail of Indian consumers, where the app requirements are different from that which urban english speaking customers needed. He added, “Paytm is the default payments app for many, and its use case needs to be simplified even when we as a company expand our horizon by adding commerce. By this method, we can make both the users happy.
Paytm has been extending itself in cashless payment space and ecommerce. It has partnered with relatively large amount of businesses for its digital payments which include auto rickshaw aggregator and hyperlocal delivery startup Jugnoo, cab hailing service Uber, QSR chains like CCD, Vaango and others, college and institutions and more.