Paytm Mall to bring brick-and-mortar stores online via QR codes
Paytm Mall QR codes will be unique for each retailer. Customers will be able to scan the code via smartphones and get access to the inventory
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New Delhi: Paytm Mall, the e-commerce arm of payments firm Paytm, on Wednesday said it will enable physical stores to display QR codes (quick response), allowing customers to scan the code, browse and shop from the stores’ catalogue on Paytm Mall.
Similar to QR stickers used for Paytm app, Paytm Mall QR codes will be unique for each retailer. Customers will be able to scan the code using their smartphones and get access to the store’s inventory online.
The feature is aimed at on-boarding neighbourhood stores and merchants that customers frequent. The company said it will enable better discovery of products and allow users the benefit of buying online from local stores.
“Vast majority of commerce in our country is still conducted offline and within an ecosystem of trusted local merchants, influencers and consumers,” Amit Sinha, chief operating officer at Paytm Mall, said in a statement.
“We look forward to help shopkeepers expand their reach and empower millions of trusted small store owners across the country. Our vision is to empower and enable trusted local sellers and become a part of mainstream ecommerce,” he added.
Paytm Mall is also planning to launch door-step delivery from local stores in few months.
“It will boost the business of local shops by bringing new customers who will be able to discover them on Paytm Mall and conveniently place an order. Retailers also get access to valuable customer analytics for better targeting of existing users,” the company statement said.
Customers using the feature will also get access to exclusive offers on Paytm Mall.
Launched as an exclusive mobile app and web portal in February, Paytm Mall is the revamped version of Paytm’s three-year old online retail business. It was de-merged into a separate entity by the name of Paytm E-Commerce Pvt. Ltd last year.
Incorporated with identical shareholding to One97 Communications Ltd, the umbrella organization that owns Paytm app, Paytm Payments Bank and the e-commerce business, Paytm E-Commerce raised $200 million Alibaba Group Holding and SAIF Partners.
Mint reported in February that Paytm Mall was in talks to raise funds from Alibaba at a valuation of $1 billion, that will see the share of Alibaba and its affiliates rise to more than 50%.
Paytm Mall has about 68 million products listed from 140,000 sellers, and a network of 17 fulfilment centres and about 40 courier partners.