Posts Tagged with “news”
Paytm : Rs 20,000 crore lined up, Paytm swears by India digital play
NEW DELHI: Paytm, with high-profile investors like SoftBank and Alibaba, has strained up a huge investment plan of Rs 20,000 crore. As the group enlarges its play into the digital payments, monetary services and e- commerce space in the country.
“In the last 2 years and the next three years, we would have invested Rs 18,000-20,000 crore. I don’t want to talk about profitability right now because we are still in an investment phase,” reporters were informed by the Vijay Shekhar Sharma who is Paytm founder and CEO
He was talking on the sidelines of the official launch of Paytm Payments Bank operations.
Paytm
which offers a mobile wallet, recharge, bill payment services, e-commerce (Paytm Mall) and ticketing services. Saw a enormous growth in its business after the government’s demonetisation drive in November last year. Paytm has 28 crore registered users, of which 18 million use Paytm wallet service.
Sharma said its platform processes about 250 crore transactions yearly value of Rs 80,000 crore.
“We expect this to grow to Rs 1 lakh crore by the end of the fiscal. The number of merchants on our platform will also touch 60 lakh in a few months,” he further informed.
Sharma also said The company, will spend Rs 5,000 crore over the next 2 years in its financial and payments services. Rs 1,700 crore have already been pumped in this year.
“Paytm is a contribution positive business. We are not profitable yet because we are investing in marketing, cloud and customer acquisition,” he added.
He further added that for the Payments Bank operations, the aim is to break even in the next 2 years.
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Flipkart Grocery : Flipkart does a soft launch of its grocery category under Supermart in Bengaluru
Flipkart Grocery : Flipkart does a soft launch of its grocery category under Supermart in Bengaluru
BENGALURU: Online retailer Flipkart has re-entered the basic need class, propelling it under Supermart on its portable application to an underlying arrangement of clients in Bengaluru venturing up rivalry against US-based opponent Amazon.
Flipkart, which has been looking at foraying into the FMCG fragment for some time now, had propelled flipkart basic supply classification and began conveyances in Bengaluru a couple of months back, just for its workers.
Flipkart basic need commercial center requires a base request estimation of Rs 500 and gives free conveyance to orders over Rs 1,000, as indicated by data accessible on the versatile application.
“We have done a soft launch for grocery categories at Flipkart. Currently, it is available to select customers in Bengaluru. In line with our aim of transforming e-commerce in the country through technology, we want to make shopping for everyday essentials convenient for our customers, we intend to scale it up to all customers in Bengaluru and take it to other cities in future,” a Flipkart representative said.
This isn’t Flipkart’s first raid into the basic need fragment. The organization had entered the basic need conveyance benefit through its application Nearby in 2015, which used to convey from neighborhood kirana stores. In any case, the activity was closed during a few time later.
Basic supply has been a noteworthy purpose of center for Amazon India since a year ago because of its rehash buys prompting higher client securing. Paytm Mall, alongside its principle financial specialist Alibaba, is likewise growing in this space and is in converses with purchase a noteworthy stake in the biggest staple retailer BigBasket.
Amazon India offers sustenance items through Amazon Pantry in a few urban areas and same-day basic supply conveyance on Amazon Now application through a tie-up with retailers, for example, Big Bazaar and Hypercity in a few urban areas.
Flipkart
is building a committed inventory network for its basic supply benefit and is giving choices, for example, open-box conveyance to confirm items before acknowledgment and doorstep returns if the client faces any issue with the item.
Source: IndiaTimes
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E-wallet : Tata CLiQ to launch e-wallet in 4-5 months
E-wallet
MUMBAI: Tata Group owned e-commerce marketplace Tata CliQ will launch an e-wallet exclusively for use in the marketplace in the next 4-5 months and eventually foray into selling services such as financial services.
It also plans to double the present 60 brands who have set up their omni-channel presence on the platform in one year. These are part of the plans to become the country’s largest omni-channel platform for which it will continue the investment mode while targeting to break even in 3-4 years, said Ashutosh Pandey, CEO at Tata UniStore, which owns and operates the website.
“We are currently in a growth phase and focus is on building brand, omni-channel relationships and traffic. A total of 800 plus brands across electronics, fashion, shoes, watches, kids and luxury sell through the marketplace. E-wallets too will be launched since they account for almost 20% of online payments. Our wallet will, however, be used only to enable customers to pay on our site and get refunds, though we could look at extending it to our omnichannel partners in future,” said Pandey. Tata CliQ will soon launch newer categories like jewellery, home furnishing and furniture. However, FMCG is not in the pipeline as yet, said Pandey. Tata CliQ went live in late May 2016.
Pandey said the just-completed festive season was significantly above expectations, with overall sales and traffic during the period growing by 25 times and 15 times respectively than the usual sales, which will also reflect in the financial performance for the current fiscal.
“Our focus isn’t on just selling low-value products like unbranded pen drives and power banks to increase volumes. Instead, our focus was on experience-led large ticket items like 50-inch plus televisions, AC, luxury products. It will remain so in future as well so that customers have a differentiated experience while buying on our site,” he said.
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