Paytm Mall plans to get 50,000 offline sellers onboard
What's the story
It's not only Flipkart and Amazon which are gearing up for the festive season discount battle. Another major player, which hasn't been making much noise, is now ready to make its move.
Paytm mall, the e-commerce arm of online payments provider Paytm, will invest $5 million (Rs. 32 crore) to get its offline retailer partners to set stores online.
Here's more!
Shopkeepers
What's the plan?
Paytm Mall COO, Amit Sinha told ET that the firm intends to bring around 50,000 shopkeepers onboard in the first year of its retailer inclusion program.
They will be provided with various kinds of awareness programs, learning facilities and will be updated on various technologies that will help them to conduct business.
There will be a team of 500 personnel to help them out.
Paytm Mall
What will it offer?
Paytm Mall is ready to walk the extra mile. In this initiative, it will equip the offline shopkeepers by digitizing their catalogs, opening online stores for them and enabling the QR code transactions.
Moreover, it will extend access to working capital to small retailers.
Sinha said that the support Paytm Mall intends to provide will evolve beyond technology and capital with time.
Loans
A proper helping hand
The e-commerce player said that for this inclusion program, it will partner up with the external financial organizations to provide loans, ranging from Rs. 10,000 to Rs. 25 lakh, to its small retailers.
Those grappling with GST norms will get training for the same and Paytm Mall will also extend logistics support for their products.