Shopmatic, the international e-commerce platform, which promises to offer the entire online sales eco-system, has launched operations in Singapore with an aim to help SMEs and individual entrepreneurs go digital and tap full potential.
“We are looking at the market opportunity through three audience segments – existing SMEs that are selling their products but are not online, existing SMEs that are selling their products offline with a minimal presence online or selling through marketplaces and lastly, the big opportunity that sits with individual entrepreneurs who are yet to realise the potential of doing business online,” said Founder, Shopmatic, Anurag Avula.
The startup offers all-in-one e-commerce solutions commission free, enabling business owners to build and manage their businesses online, unlike 15 percent commission charging other marketplaces, the statement said.
Founded in December 2014, Shopmatic already operates in Bengaluru and Gurgaon. Shopmatic also partnered with PayPal to enable cross-border trade for local businesses to transact payments outside of Singapore.
CONSUMER-CENTRIC SERVICES IN INDIA
Shopmatic, an international e-commerce platform that offers an entire ecosystem to businesses and individuals to sell their products online, has announced the expansion of its role as a business service provider.
The newly launched feature will provide customized solutions to service entrepreneurs, assisting them in promoting and selling their services to a wider customer base.
With the foray into business services, Shopmatic will not only cement its market position as the only online platform for customers’ entire gamut of needs; it will also empower the unemployed in selling their services without any excess hassles.
The company will initially launch seven exclusive services, which includes beauty, education, wedding events, bridal make-up artists, wedding choreographers and other services.
TIE-UP WITH PAYPAL
Digital payments firm PayPal has tied up with e-commerce platform solutions provider Shopmatic to enable its merchants to expand their sales globally. This is PayPal’s first tie-up with an Indian partner.
Shopmatic provides e-commerce solutions to merchants. PayPal has been getting increasingly aggressive in the Indian market since it was split from Ebay and listed separately last year.
“We are happy to announce Shopmatic as our first Indian partner to enable online commerce. The emerging digitisation has had a strong impact on not only taking SMEs online domestically but enabling their ambitions globally,” Vice President for Regional Merchant Services and Southeast Asia at PayPal APAC, Hamish Moline, said in a statement.
In India, PayPal works only for cross-border transactions, a market that the company is growing fast. In November, a report by PayPal showed that Indian online shoppers will spend an Rs 54,700 crores buying products from other countries, and the spend is expected to rise by more than 75% in 2016.
PayPal is also reportedly striking deals with banks to help consumers in India use their credit and debit cards to buy internationally. In May, the company announced that it had partnered with State Bank of India to enable customers to use their SBI debit cards on PayPal to make purchases on overseas websites.