PayTM Mall, the online marketplace launched

Mumbai, Feb 27: Indian payment and commerce company Paytm E-commerce on Monday announced the launch of its new Paytm Mall application on Android.

The Paytm Mall concept aims to offer a combination of the Mall and Bazaar concepts to Indian consumers.

In a statement Paytm says that “Only trusted sellers who passing strict quality guidelines and qualification criteria only should be allowed on the ‘Mall'”.

All products listed on the mall section will also go through Paytm certified warehouse and shipping channels to ensure guaranteed consumer trust, it said.

“We have defined quality criteria for all sellers and are building uncompromising controls over warehousing and shipping for products sell on Paytm Mall. Consumers would continue to get the largest variety of domestic and international products through Paytm Bazaar, which will also be featured on PayTM Mall,”

-Saurabh Vashishtha, Vice President, Paytm.

The Bazaar is a  non-formal shopping channel on Paytm that will also be featured on a new application, it added.

The brand new Paytm Mall has over 17 fulfilment centres across India to offer consumers an efficient online purchasing experience.

The plan of Paytm Mall would also offer sellers the widest reach through its vast network of over forty courier partners across the country, it said.

The Pay Through Mobile (Paytm Mall) app would also launch an upgraded version of the Paytm Seller app, available in 7 regional Indian languages allowing anyone with a smartphone to set up an online shop on Paytm Mall.

Paytm Mall is available on Android smartphones, and lists over 68 million products sold by 1.4 lakh sellers spread over 1000 cities and towns across the country.

The iOS app of the Paytm Mall is expecting soon.

PayTM Payments bank: 

Paytm’s focus on the e-commerce segment comes in the middle of its plans to roll out its Payments bank.

Vijay Shekhar Sharma, the founder of PayTM had said that the company will be launching the payments bank by this week.

“We want to develop this to deposits and current accounts. I think 2017 will be the year for us to expand into banking. We have to build distribution, reach and customer base,” Vijay Shekhar had said.

The company may be separate the e-commerce business from its main application, which will make the transition to the payments bank.