Paytm is India’s largest mobile commerce platform. It is one of the latest e-commerce shopping website launched in 2010. It offers services like mobile recharge, DTH recharge and bill payment. It has also extended its area of service to facilitate payment across leading consumer internet companies such as Uber, Bookmyshow, Makemytrip. Today it offers a full marketplace to consumers on its mobile apps. Paytm has over 100mn registered users. It is the consumer brand of India’s leading mobile internet company One97 Communications.
It was launched in 2010 by Vijay Shekhar Sharma. The foundation stone was laid in Noida, India. The name Paytm is supposedly an acronym for Pay Through Mobile.
Recently Paytm announced same day delivery service to 20 cities. The offer is made available only on large appliances. According to their press release, company is looking for more local commerce opportunities. It is also planning to add more categories to its already extensive list of services available to the customers. The announcement came as a part of their online-to-offline business model.
According to investopedia, Online-to-offline commerce is a business strategy that draws potential customers from online channels to physical stores. It is fondly known as O2O business model. O2O identifies customers in the online space, and then uses a variety of tools and approaches to entice the customer to leave the online space. The online space may be through emails or internet advertising. The goal of online-to-offline commerce is to create product and service awareness online, allowing potential customers to research different offerings and then visit the local store to make a purchase.
This startup wishes to add around 10,000 sellers in top 50 cities to this model. Here the consumers will search the goods online and then visit an offline store to make the purchases.
Most important service provided by Paytm is its Paytm wallet. This service is the most preferred mod of payment across leading consumer companies. Paytm wallet is a pre-paid payment instrument issued by Paytm including Basic Account and Prime Account.
Hope this new O2O commerce brings similar success as its previous services.