IndiaCatalog.com
India News
Search Web Directory
News Home
Paytm Mall takes the fight offline, plans to invest $30 mn in 2018
Posted on 3rd May 2018
Taking the offline route to take on e-commerce biggies such as Flipkart and Amazon, Paytm Mall, which completed a year in April, is planning to invest $30 million over the year. It will develop and roll-out connected Point of Sale (PoS) solutions across 100,000 retail stores.

The PoS is a software-based system, which can be used on any smartphone or tablet. Shopkeepers can also take a PoS machine that Paytm Mall would provide for rent.

The idea is to bring smaller shopkeepers and sellers online, providing them an inventory management, billing and assistance system. “We have kept aside $30 million for PoS solutions this financial year. Most of the money would be spent on training and building the solution,” Amit Sinha, chief operating officer, Paytm Mall said.

The devices would help shopkeepers sell offline as well as online. The company is planning to make the service subscription-based. The company believes the new system would help in increasing its gross sales by 25 per cent to 30 per cent across categories in a year.

The company has also introduced an offline ‘Digital Experience Zone’ in Asus stores and partnered retail stores, providing a whole range of product catalogues available of the respective brand. Consumers also get it delivered to their doorstep.

Taking its expansion plan in the fast lane after infusion of Rs 29 billion from SoftBank, Paytm Mall, the e-commerce company of Vijay Shekhar Sharma-led One97 Communications, is eyeing $9 billion in gross merchandise value (GMV) by the end of this year.

The company plans to double the number of products on the platform and increase the number of sellers. “The idea is to double down on the plan that we had in terms of the online to offline strategy. We have an aggressive expansion plan for this year. As far as the seller base is concerned, we plan to increase it from 75,000 to 300,000 by the end of this year. We will cover the whole spectrum of sellers from fashion, appliances, electronics and mobile phones, as well as fast-moving consumer goods,” Sinha said.

The company, which generated $3 billion in GMV last year, plans to triple it by the end of this year. “Last year, we hit a peak of $3 billion. This time, we want to hit three times of that, around $9 billion,” Sinha added.

Related Companies: Paytm   

Other Latest News
Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019

Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.

Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade.


Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point.

On a weekly basis, the local unit slumped by 32 paise.


LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019
In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19.

Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai).


Apollo Hospitals rules out further stake sale
Posted on 13th September 2019
Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here.

World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019
In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Paytm Mall takes the fight offline, plans to invest $30 mn in 2018
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Paytm Mall takes the fight offline, plans to invest $30 mn in 2018

Most Read News

More India News

Photo Gallery

Akhil(11 Images) Akhil
  India Web Directory
Business Profiles
Yellow Pages
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2026 IndiaCatalog.com
    All Rights Reserved
Privacy Statement