Companies

Paytm launches shopping mobile app

Priyanka Pani Mumbai | Updated on February 06, 2014 Published on February 05, 2014

Now Indian online shoppers will get to do what they love to do the most and that is bargain.

Paytm, the consumer facing m-commerce brand of mobile Internet company One97, has launched a shopping mobile app that can help shoppers to literally bargain for a deal before buying.

Vijay Shekhar, founder of One97 and Paytm, said that with this feature, the company aims to get about 1 million orders a day next year, up from 3 lakh orders or transactions currently. 

“Bargain is ingrained in nearly every Indian and is part of our everyday shopping. We are giving over-the-counter experience,” Shekhar said, adding that app allows the shoppers to chat with the merchant directly and bargain for a deal. The technology has been developed inhouse after One97 acquired Bangalore-based tech firm Plustxt messenger last year. 

Shekhar said One97, which has raised ₹120 crore from investors such as SAIF Partners and Intel Capital in 2011, will invest close to ₹150 crore towards adding more features and for developing the Paytm app.

Paytm has about 250 merchants, including online and offline retailers or merchants, on its platform. On every transaction, Patym charges a platform fee from the merchants, which translates into revenue. Paytm’s current revenue is pegged at $100 million. 

Game changer

Shekhar feels that the feature can act as a game changer in mobile commerce as it helps them attract more customers, who have not shopped online before. Till now, Paytm allowed consumers to recharge their mobile and DTH. The feature is available in the Apple iTunes App Store and from next week in the Google Play store. Other mobile platforms will be made available by the end of February. 

Paytm has also launched cash wallet, a mobile prepaid payment option by which you can add cash from your bank/credit card and shop much faster on the mobile phone. Users can get cash back or refund from a merchant in the cash wallet and use it across every item sold in the marketplace. This feature has been incorporated after a RBI licence granted to Paytm.

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Published on February 05, 2014
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