Online Payment Company to invest USD 200 million to assist online marketing by MSMEs
Updated: Feb 12, 2015 02:49:05pm
Bengaluru Feb 12 (KNN) With a view to dominate the online payment business that is expected to grow rapidly in the next few years in India and to achieve a five-fold increase in its seller base in two years, Mobile wallet company Paytm will shell out about $100 million from its $575-million war chest, powered by Chinese e-commerce major Alibaba.
Paytm, an e-commerce platform which consumers can access through mobile apps, claims to have around 15,000 merchants, about 25 million registered users and about 20 million mobile wallet users. It will use the fund to assist micro, small and medium enterprises (MSMEs), manage their catalogues and inventory, get trained in mobile commerce and streamline payment systems, work with merchants to market their products and to make available logistical assistance as and when the need arises.
Besides securing loans for the merchants from the financial institutions, Paytm will develop credit rating mechanisms for the SMEs. This will be based on the financial health of the SMEs, the kind of trusted consumer base they have and their capabilities to repay the loans.
As more Indians increasingly make transactions online, global investors are betting on medium to long-term growth of this market. Paytm also envisages facilitating cross-border e-commerce and making inroads into the southeast Asian markets enabling Indian traders sell goods there. (KNN/SS)
Paytm, an e-commerce platform which consumers can access through mobile apps, claims to have around 15,000 merchants, about 25 million registered users and about 20 million mobile wallet users. It will use the fund to assist micro, small and medium enterprises (MSMEs), manage their catalogues and inventory, get trained in mobile commerce and streamline payment systems, work with merchants to market their products and to make available logistical assistance as and when the need arises.
Besides securing loans for the merchants from the financial institutions, Paytm will develop credit rating mechanisms for the SMEs. This will be based on the financial health of the SMEs, the kind of trusted consumer base they have and their capabilities to repay the loans.
As more Indians increasingly make transactions online, global investors are betting on medium to long-term growth of this market. Paytm also envisages facilitating cross-border e-commerce and making inroads into the southeast Asian markets enabling Indian traders sell goods there. (KNN/SS)
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