Paytm to raise $300-500 million for local e-commerce

Vijay Shekhar Sharma said, “Paytm wishes to enable same-city commerce and help dining establishments, supermarket and pharmacies grow their walk-ins through offers and deals. We have already tied up with 4,500-5,000 merchants.”

Paytm Shopping center, which has actually likewise deployed the O2O commerce design, will remain different and target a different sort of usage case. While Paytm’s New Retail is retailing food, groceries and medications, which are instant requirements, Paytm Shopping mall’s O2O model has centred around tie-ups with brand name stores for helping with deliveries.

New Retail will not have any storage facilities unlike how the supply chain works for horizontal markets like Paytm Mall. Modelled on China’s Meituan-Dianping, a group-buying website for regional consumer products and retail services, Paytm wishes to focus on in-store commerce through New Retail. Paytm claims it’s on a run-rate of 5 billion deals and $50-billion gross deal worth.

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