The incentive of a versatile wallet is not just about the payment, but instead, it provides you with an overall administration and protection of your funds. Paytm is a brand known for its authenticity, security, and reliance. The company can strengthen its roots in the pretty shorter span of time. Online sector is the hottest and demanding industry nowadays. Every prominent tycoon is giving a thought to try his hand in some online based activity. When the market is already so highly competitive, it poses a higher risk to get indulge in such an action. But business is all about scanning the business opportunity, analyzing the market carefully and making up right decisions at the right time to turn higher profits. The founder ‘Vijay Shekhar Sharma’ had the zeal to do something out of the box which landed him up with an idea to bring online payment wallet in the market. Though the journey was not that easy! Still, if you don’t have that insect to do something out of the box, then sorry! You can’t be one the most prominent entrepreneurs currently present in the market because the competition is already too high.
Paytm is one of the reputable E-wallets which are utilized by a great many clients, and furthermore, it has begun a crusade called “Paytm Karo” to spur all the small businesspeople and different retailers to acknowledge payment through the E-wallet cash.
1. BACKGROUND STORY
It’s all about making up best combination of experiments in the business world and turning them into gold – digging opportunity for you. For being a business tycoon what you require is just a hardcore dedication and strong zeal to conquer any difficulty that comes to your way. PAYTM founder ‘Vijay Shekhar Sharma’ is a perfect example of the person who never gives up, no matter whatever comes to his way. His journey is a perfect example of ‘rags to riches’. Started up with Rs. 10 in his pocket and today he owns a company having the market value of over $3 billion. But this journey was not so easy! It’s all about Vijay’s hard work and a never die attitude which is the main reason behind the tremendous success of the company that leaves many of the other business competitors spellbound!
- Paytm was launched in August 2010; since then there is no looking back. Paytm is the consumer brand of One97 Communications.
- Later in 2013, after getting inspired by China, the company launched Paytm wallet to provide the better experience to the Paytm users.
- In 2015, Paytm received a licensed permission from RBI or Reserve Bank of India to start India’s first payment bank, i.e., “PAYTM PAYMENT BANK LIMITED”. It is a separate entity from Paytm previous ongoing business. Here the founder Vijay Shekhar holds the maximum stake of 51% in the company.
- From August 2017, the company has started providing the facilities of Paytm bank on their mobile apps also. It is the first bank in India charging zero fees on the transactions done through it. There is no minimum balance maintaining criteria.
- Paytm came up with a dedicated app and website, Paytm Mall, for the online marketplace business. It started on 27 February 2017 where the company aims to offer the combination of the Mall and Bazaar to the Indian Consumer.
2. PAYTM MALL
It takes a big heart to step into such market where already other companies have proved their stone. Setting up your milestone in such a market is quite tricky but yet not impossible. If you have that potential and a keen vision to analyze the market then yes, it’s not that much harsh. After seeing an unmatchable success with its mobile wallet Paytm is now expanding its reach in the e-commerce segment. While the Paytm app itself offered a bunch of booking, buying and renting facilities, the company has now launched a dedicated app and website, Paytm Mall, for the online marketplace business. Presently, the app is only available on Android but is expected to be launched on iOS soon.
Paytm mall hasn’t completed a year in the Indian market; still, it has 1.4 million sellers on board for the platform, across categories like fashion, electronics, consumer durables and home furnishings among others. Paytm mall tried to connect the local departmental stores to its mobile app. The basic idea behind this was to provide online selling facility to local vendors who are feeling little disheartened nowadays. The companies with which they deal are directly providing their products online which have eliminated their presence. Due to increased use of online shopping app, these local shop holders are not able to connect with the consumer well.
Thereby, Paytm mall provides such local shop holders to promote their right online and sell their goods more efficiently. This is helping them to secure their diminishing profits. Paytm Mall focuses on structured categories and brand authorized stores. It also focuses on electronics, top fashion brands, and FMCG categories, while another section of Paytm Mall called Paytm ‘Bazaar’ focuses on fashion, home furnishing, and goods from small sellers.
3. PRODUCTS OFFERED
Paytm mall brings to you wide range of products at never before price! Not only this, now you can shop directly from your trustworthy local shop by just sitting at home. The primary outcomes offered by it are:
- Home utilities
- Fashion Goods
- Branded apparels
- Home furniture and fixtures
- FMCG Products.
4. TOP – NOTCH FEATURES
Paytm Mall has brought out some newer concept that distinguishes it from the other sites in the online market. Those features are:
EASE IN MAKING PAYMENT
When you place an order through some online website, you have to look out some medium to make payment. You run for some cash wallet or net banking option. But when you place an order through Paytm Mall this problem is eliminated as Paytm have its online payment wallet.
WIDE RANGE OF PRODUCTS
Paytm mall is enjoying association with top-notch brands that strengthen its position in the market more. It provides you with n number of products ranging from apparels to electronics, home utilities to furnishing, and everything can be found under a single roof!
CONNECTS TO OLD PEOPLE
The old people at our house resist purchasing the things online due to lack of trust over some new unknown vendor. What if they can buy the product from their old shop?
Paytm bring this facility to you. Paytm has a tie-up with famous local shops that have proved their excellence long back and had already made a unique position in the hearts of their customers. Under Paytm Mall, the local vendors can put their items on the Paytm Mall website, and their customers can find them easily by just sitting at home.
ACCELERATES PROFITS OF OLD VENDORS
Paytm Mall has provided a platform for local vendors to promote and sell their products online. This helps them to accelerate their sale in the much shorter span of time and to increase their accessibility. Now they can quickly capture a vast proportion of market share.
Paytm already has millions of customers connected to it. Due to its association with Government of India, people have a high level of confidence in this recently merged company. People are using long back! Thereby, they connect much with it and have a surety that any transaction through Paytm would be sound and secure.
PAYTM MALL DEAL OF THE DAY
Paytm Mall offers significant savings on biggest of brands with Deal of the Day. Limited time sale of products ranging from mobile phones and laptops to tablets are on sale. Some of these products are Paytm Mall Exclusive. Paytm Mall Deal of the Day helps you save by earning cash back when you buy one of the listed products during the sale period. The amount of cashback reward is mentioned right beside the product.
Apart from the discounted price on genuine, authentic products, Paytm Mall also provides significant savings regarding cashback reward and Paytm Mall coupons. These deals and offers, in turn, help you save big.
Paytm Mall brings to you time to time significant deals that help you to make the substantial saving. Some of these deals include Hottest Summer Sale that begun on 16th May 2017 and running up to 18th May 2017 and the Flash Deals that go live from 12 AM till 10 AM are something that you shouldn’t miss at any cost.
FESTIVE SEASON DHAMAKA
Festive season brings reason to make big purchases. If goods are available at never before prices then this acts as a cherry on the cake. During this festival season, Paytm Mall is offering up to Rs 15,000 in cash back on electronics and more categories. From fashion accessories to electronics, automobiles, and smartphones, everything is provided at most exclusive offers!
5. COUPONS AND DISCOUNTS
Discount is one of the active strategies to attract more and more customers. Luring offers and discounts grabs the attention of the customers towards it. Customers quickly switch to those sites that provide them with the high quality of goods at the much lower price. Coupons and discounts have high utility! Some of the discounting strategies that are adopted by Paytm Mall are as follows:
- BUY 1 GET 1 FREE
- PERCENTAGE DISCOUNT OFFERS
- REFERRAL CODE
- PAYMENT FROM SELECTIVE WALLET
- PAYMENT THROUGH SELECTIVE BANKS / CREDIT / DEBIT CARDS
- MINIMUM PURCHASE DISCOUNT
- FIRST PURCHASE DISCOUNT
- SPECIAL REDEEMABLE COUPONS
- CUSTOMER LOYALTY POINTS
All these strategies help any of the company to attract more and more customer towards it.
6. COUPONS OFFERED
Paytm Mall brings to you full range of vouchers. Some of them are mentioned below:
A. ELECTRICALS AND GADGETS
- Apple iPhones – Get Rs 9000 Cashback
Ends on 19 Nov 2017
- Maha Cashback Sale – Up to Rs 20000 Cashback On Electronics, Appliances & More
Ends on 15 Nov 2017
- Mobiles – Get 20% Cashback
Ends on 28 Oct 2017
- Get Up to Rs 9000 Cashback On Smart Phones
Apple iPhone SE 32 GB – Flat 12% Discount + Rs 3000 Cashback
Ends on 29 Oct 2017
- Up to 40% OFF + Rs 7000 Cashback On SmartWatch and Fitness BandEnds on 10 Nov 2017
B. HOME FIXTURES
- Home Appliances Sale – Get Rs 20000 Cashback
- Carnival – 15% CashbackEnds on 18 Nov 2017
- Appliances Store – Get Rs 10000 Cashback
Ends on 7 Nov 2017
- Home & Kitchen Bestsellers – Get 20% Cashback
Ends on 28 Oct 2017
- Paytm Mall – Mobiles & Accessories Store – Get 16% cash back
Ends on 29 Oct 2017
D. FASHION AND APPARELS
- Fashion Clearance Sale is Live – 60% Cashback for All Users
Ends on 29 Oct 2017
- Under Rs 899 – Get Extra 25% Cashback
Ends on 29 Oct 2017
- Raymond Store: Get Extra 30% Cashback
Ends on 25 Nov 2017
From mobiles and gadgets, electronics, home appliances to household items and fashion accessories, men’s and women’s apparel, all the way to helmets, tires, and other automobile necessities, everything is available on Paytm Mall. You can save big with the discounted prices and even earn cash back rewards or get more discounts using Paytm Mall offers.
Paytm Mall has just come into the market and has created much craze among its customers. It will take time to deepen its roots in the online retail market. The concept behind it is unique, but in this highly competitive market, much more features are needed to be added – on to accelerate its profits. Stay connected to best offers!