Paytm, India’s largest mobile commerce platform, says it plans to add a total of 4 lakh merchants by the end of 2016. The website, which started by offering mobile recharge and utility bill payments, is a full marketplace today – both online and offline. They have over 1 crore registered users and claim to get more than 60 lakh orders a month.
The consumer brand arm of Indian Internet company One97 Communications, Paytm also has a thriving offline network. Consumers can pay at select brick-and-mortar stores with their Paytm accounts.
Some of the stores in the Paytm programme include small ‘paan’ shops, vegetable vendors, Aditya Birla Group’s More (food and grocery retail mart), Indian Oil petrol pumps, Pizza Hut and Cafe Coffee Day. It is this number that the company is looking to more than double by the end of this year.
Currently, the Noida-based startup does 35 lakh offline transactions in a month worth Rs 85 lakh, excluding mobile recharges. It estimates transactions in the offline business alone to grow 10 times to 3.5 crore by the year end.