With 120 million wallets, India’s largest mobile wallet company Paytm boasts of a user base that is six times the number of credit card users in the country. Paytm, which counts Chinese e-commerce giant Alibaba among its backers, has a differentiated strategy compared with other mobile wallet companies: it wants to be present everywhere the consumer is transacting and own the entire life cycle of pay, shop and save. The company also runs an online marketplace where over 100,000 merchants sell their goods. But unlike other e-commerce players, Paytm does not have its own fulfilment centres or inventory. “We want to be the online face of the offline players. In the inventory-led model, your expansion plans are limited by the cash that you have,” says Sudhanshu Gupta, who heads the marketplace business at Paytm. He points out that about 50% of the company’s e-commerce sales come from tier 3 and 4 towns and there are many sellers who are waiting to take their business online. Paytm is looking to host about 500,000 merchants on its platform by end-2016.
India's largest mobile wallet firm wants to own the entire life cycle of pay, shop and save
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