What is Paytm India? Paytm India Review

Paytm e-commerce platform

introduce

PayTM established its cross-border e-commerce platform business in 2016, covering key categories such as fashion, home furnishings, digital electronics, luggage, outdoor sports and mobile phone accessories.

Registration Information

1. Indian mobile phone number. The registration process requires verification of Indian mobile phone number. Indian mobile phone number is 10 digits.

2. The application must be submitted by an enterprise, not an individual;

3. ID card and social security number;

4. Proof of address, water, electricity and water supply;

5. Bank’s payment information.

6. Have experience in other cross-border e-commerce platforms.

7. Paytm can only accept payments from public bank accounts. The platform will transfer the payment to your Paytm wallet, and then you can withdraw the money by binding your public bank account.

cost

All categories are 15% uniformly, including the following items:

• Marketplace Commission - 10.3%

• Payment Gateway (PG) fee - 2.7%

• Paytm e-commerce platform needs to pay the Indian government's service tax Service Tax - 2.0%

Special note: In case of return or order cancellation, the platform will still charge a 2.7% payment gateway fee, as well as a corresponding withholding service tax of 0.405% (2.7%*15%), a total of about 3.1%

Settlement process

In China

Paytm entered China in 2017 to attract investment and develop cross-border business, and in October 2017, it chose Hangzhou, China as its China headquarters.

ESG is the official designated agent of Paytm in India, providing Chinese cross-border e-commerce sellers with a fast track to join the Paytm platform, helping sellers quickly enter the Indian e-commerce market.

Historical Development

Paytm is an e-commerce website launched by One97 Communication in 2010. Headquartered in Noida, India, One97 was founded on December 23, 2000. It is an Indian Internet company with offices in India, the Middle East and Africa. Investors include SAIF Partners, Intel Capital, SAP Ventures and Silicon Valley Bank.

In 2014, Paytm entered the Indian e-commerce market and launched the Paytm Wallet APP.

In 2015, Paytm entered the travel and ticketing business, and the Paytm Wallet e-wallet business processes 2 million transactions per day.

In 2016, Paytm launched movie, event and amusement park ticketing as well as flight booking and Paytm QR. Later, it launched railway booking and gift cards. As of July 2016, Paytm's e-commerce business GMV totaled 2.5 billion Indian rupees (about 37.21 million US dollars).

In 2017, Paytm became the first payment app in India to cross 100 million app downloads, and in the same year, it launched Paytm Gold, a product that allows users to buy pure gold online for as little as $1. It also launched Paytm Payments Bank and “Inbox,” a messaging platform that offers in-chat payments among other products.

In 2018, it started allowing merchants to accept Paytm, UPI and card payments directly into their bank accounts at 0% fees and also launched the “Paytm for Business” app, which allows merchants to track their payments and daily settlements instantly. This led to the growth of its merchant base to over 7 million by March 2018.

Financing

In March 2015, Paytm received funding from Chinese e-commerce company Alibaba Group after Ant Financial Services Group, a subsidiary of Alibaba Group, acquired a 25% stake in One97.

In February 2016, Ant Financial acquired 25% of the shares of Paytm's parent company. In September of the same year, Alibaba and Ant Financial made a new round of capital injection into Paytm, with Ant Financial's total shareholding reaching 40%.

In August 2016, Paytm raised funds from Mountain Capital, one of the investment funds of Taiwan MediaTek, with a valuation of more than US$5 billion. After the completion of this financing, Sharma's 51% stake in Paytm Payment Bank will be diluted by existing investors such as Alibaba and Ant Financial.

In March 2017, Alibaba will invest US$177 million in Paytm Ecommerce, an e-commerce platform under Indian electronic payment company Paytm. This transaction will enable Alibaba to obtain a controlling stake in this important Indian e-commerce company.

In May 2017, Paytm announced on its official blog that it had received a $1.4 billion investment from SoftBank. This investment was both the largest single investment in Paytm and the largest single investment by SoftBank in India.

In April 2018, SoftBank Group invested $400 million in Indian e-commerce Paytm E-Commerce, and another investor, Alibaba, invested an additional $45 million in the second round of financing. On June 13, Alibaba and SoftBank's $445 million investment in Indian e-commerce Paytm Mall was completed, and the last tranche of funds has been received.

Acquisitions

In 2015, Paytm had invested $5 million in auto-rickshaw aggregator and hyperlocal delivery company Jugnoo.

On December 8, 2015, Paytm, India's largest mobile payment platform, announced that it had acquired Near.in, a startup providing local services, for US$2 million to focus on its O2O business.

In 2016, Paytm invested in logistics startups LogiNext and XpressBees.

In April 2017, Paytm invested in healthcare startup QorQL, which uses artificial intelligence (AI) and big data to help doctors improve productivity and quality of care, enabling patients to better manage their health.

In December 2017, Indian e-commerce and payment giant Paytm announced that it had acquired group buying platforms Nearbuy and Little. The specific acquisition amount has not been disclosed to the public.

In May 2018, Paytm acquired local online ticketing platform TicketNew for USD 40 million.

References

• 1. Interpretation: Paytm receives $1.4 billion investment from SoftBank, valuation soars to $7 billion: Sohu [cited date 2017-05-14T16:00:00.000Z]
• 2. A complete guide to entering the Indian e-commerce platform PayTM Mall: Silu.net [cited on 2019-08-15T16:00:00.000Z]