Paytm, largest mobile commerce platform announced its plan to roll out its hyperlocal business. The hyperlocal segment will initially focus on food ordering, table booking, cinema tickets, and deals in the neighborhood. It has entered into partnerships with leading companies including BookMyShow, Zomato amongst others for successful delivery of its hyperlocal services. Paytm envisions clocking 50% of its total sales via this channel by 2016.
Speaking on the launch, Vijay Shekhar Sharma, Founder & CEO Paytm said, “Hyperlocal commerce is the proverbial, “next big thing” in m-commerce. It perfectly blends the convenience of buying from vendors in the vicinity and the ease of virtual retail. From groceries to consumer electronics, we expect majority of transactions to be driven by hyperlocal commerce in the near future. To tap into this extremely promising market, we are all set to launch our hyperlocal business"
Paytm has already launched an initiative called Fastest Expert Delivery (FED) in partnership with The Mobile Store to deliver mobile phones within two hours. Going forward, its hyperlocal services such as tickets, deals and food ordering will be integrated within the Paytm wallet app and products such as electronics and apparel will be offered on the shopping app.
Paytm is India’s largest mobile payment & commerce platform. With current user base of more than 100 million, Paytm is on mission to bring half a billion Indians to the mainstream economy using mobile payment, commerce and soon to be launched payment banking services. The consumer brand of India’s leading mobile internet company One97 Communications, Paytm is head-quartered in New Delhi NCR. The company’s investors include Ant Financial (Alipay), SAIF Partners, Sapphire Venture and Silicon Valley Bank.