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Paytm is not diverse from other parallel souk. They sell the same goods which every other market place sells. Presently they are operating enormous cash back offers to expand its footing and that is the cause of unexpected ascends of Paytm as a market consign challenger. Paytm is basically identified for recharge and bill payments.
Paytm, as a trade name is now as well-liked as Flipkart, Snapdeal etc. Its wallet and payment service trade is going to be huge in next 2 years with its arrival in towns, villages where no other participant has reached.
Another USP of the company is that it is particularly planned for mobile users and not just a mere expansion of online market consign like other e-commerce organizations.
The corporation which began with presenting mobile recharge and utility bill payments is now submitting a packed marketplace to regulars on its mobile application available on iOS and Android Operating Systems.
The exclusive thing about the function is that the patrons can actually converse live with the vendor in order to negotiate for a merchandise. Some of the already available articles are mobile phones, jewelery, eye wear, footwear, apparels, cameras etc, to name a few.
It has also freshly popularized the Paytm cash wallet, which is a mobile prepaid payment choice conceding users to add cash from their bank account or credit card.
Mobile payment wallet Paytm has amalgamated with major insurance companies to propose online premium payments and is focusing premium payments of Rs 1000 crores by the end of the financial year.
Insurance Companies like ICICI Prudential Life, Religare Health, Reliance Life and Reliance General, have aligned the Alibaba seconded company to aid clients in paying their insurance premiums online.
The major snag for mobile shopping in India is payment. There are hundreds of millions of debit and credit cards circulated in this country, but only about 5 million credit cards are dynamically comporting online. Apprehension of fraud and deceit bars many from disclosing their card particulars. Cash-on-Delivery is a smart alternative, but many small retailers cannot deal with the ledger and strategies or the inadequacy of this scheme.
Paytm, very early targeted on this throbbing dot by applying to the Reserve Bank of India for a PPI license. Regulars can keep money in pledge accounts kept up by Paytm with banks, and it is only released after the goods are dispatched and confirmed.
It is the PPI which endorses Paytm to go ahead because payment particulars do not have to be registered every time. This is the USP of Paytm.
A time will come, and it is not that far away, when Paytm will rule the entire mcommerce world.