Friday 30 January 2015

Paytm plans to add over 1 lakh sellers, hire 4500

NEW DELHI: The poster boys of Indian e-tailingFlipkart and Snapdeal, might soon have tough competition from mobile wallet brand Paytm. Amidst rumours of fresh fund infusion,Paytm is looking to aggressively ramp up its mobile marketplace by adding over one lakh merchants in one year. 

It also has plans of hiring 4,500 people across various verticals during same period, according to Renu Satti, VP, business development, Paytm. Snapdeal has around one lakh sellers on its market place. 

"From sales and product and engineering to logistics and customer service, we are looking at candidates across all categories and hierarchies," she said. "And with regards to merchants, apart from retailers across geographies, we are also focusing on SMEs such as Dharavi Market among many others." 

At present, Paytm, which is owned by Noida-based One97 Communications and headed by its chairman and MD Vijay Shekhar Sharma, has around 2,000 employees on its payroll and 15,000 sellers on its market place. It started its journey in 2010 as a mobile recharge and bill payment service and later started diversifying into wallets and other electronic payment services. 

"We have the advantage of having the trust of the consumer as well as the merchant because of our RBI licensed wallet," said Satti when asked about competition from well-entrenched players in the country's e-tailing business. Paytm received the wallet service license from RBI last year and has around 20 million active users, more than the number of credit card users in the country, according to industry estimates. It has plans of touching 100 million users by 2016. 

Mobile wallet companies such as Paytm, Oxigen and Citrus allow users to fill money into their electronic wallets and engage in transactions with merchants who have partnerships with a mobile wallet service provider. From the 1-2 million recharge transactions that Paytm does every day, conversion of even a small percentage of that into sales of products might be a big opportunity to begin with for the venture that has the backing of names like SAIF Partners, SAP Ventures and Intel Capital among others. 

No comments:

Post a Comment