MOBILE ONLY MARKETPLACE WITH A MOBILE MESSENGER & WALLET INSIDE
Paytm today introduced an all new Paytm Shopping app with a revolutionary concept to bargain for a deal before you buy. With an eye to change the game in mobile commerce in India, the app features shopping in various categories including Men, Women, Kids fashion and Home furnishing along with Mobile & DTH recharge options, which were already available on Paytm.
The app is now available on the Apple iTunes App Store. Soon to follow in the Google Play store, the new Paytm app will be available to all 6 Million Paytm mobile app users by the end of February.An introduction made by Vijay Shekhar Sharma, Founder & CEO of Paytm this morning was attended by enthusiasts and journalists. Google India Head, Rajan Anandan also graced the occasion with his presence.
Speaking at the launch, Anandan said, “The scale at which Paytm is operating today is amazing! To do 300,000 transactions a day is an order of magnitude higher than what is happening in the commerce space today.” Referring to the app’s Bargain feature, Rajan Anandan said, “It’s great to see, what you have launched is a world’s first! Outside of travel, no e-commerce company in the history of the world has had a feature where you could negotiate on a product purchase, so congratulations to Vijay and team on doing a world’s first!” Calling the ability to bargain a “Killer feature,” he said, “This year, one of things that will accelerate the number of Indian online buyers would be very simple to use products like these, which are mobile-only and therefore you can access the 70m smartphone users going to a 100m users.” He concluded, “We at Google are very excited! India needs truly Indian innovations that are global first. I haven’t seen anything in a long long time. I think you have launched one today, which is very very interesting!”
Introducing the app, Vijay Shekhar Sharma, Founder & CEO of Paytm said, “We have thought of mobile shopping from bottom up, without any previous assumptions of consumer behavior. Bargain is ingrained in nearly every Indian and is part of our everyday shopping. We are making something that will appeal to every Indian user in a natural way.”
The new Paytm app will provide real “over the counter” human shopping experience using a text messenger. One97 Communications (Paytm’s parent company) had acquired Plustxt messenger in 2013.
The shopping app also has an all new Paytm Cash Wallet for payments continuing with Paytm’s dedication to make mobile commerce friendly and easy for every user. Paytm Cash Wallet is 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 Paytm Cash Wallet and use it across every item sold in the marketplace. This feature has been incorporated after a RBI license granted to Paytm.
“We need a very reliable and easy to use payment system for mobile. None of the traditional systems were built for mobile, so we made Paytm Cash. It is a game-changing product made for mobile payments.” said Vijay. He also added, “All your saved cards – credit cards, debit cards and net banking work seamlessly with Paytm Cash Wallet right from your phone. Paytm has more than 1 million saved cards and it will be a breeze to shop using these.”
The App features more than 100,000 items from 250 merchants in Men, Women, Kids fashion and Home Furnishing Categories. It has an immersive experience with high fidelity images and a beautifully designed user interface.