As hyperlocal services are getting hot in India with Internet giants such as Flipkart and Ola entering the segment, mobile commerce major Paytm has also decided to test the waters.
The Noida-based firm has announced its plans to roll out hyperlocal business, starting with food ordering, table booking, cinema tickets and deals in the neighbourhood.
“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,” said Vijay Shekhar Sharma, Founder & CEO, Paytm.
“From groceries to consumer electronics, we expect [the] 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,” he added.
Going forward, the hyperlocal services such as tickets, deals and food ordering will be integrated with the Paytm wallet app. Products such as electronics and apparel will be offered on the shopping app.
Founded in 2000, One97 is a leading mobile Internet company that offers digital goods and services under the Paytm brand. It also provides mobile advertising, marketing and payment services to merchants.
The firm claims that it recently crossed the 100-million digital wallet user mark and that Paytm users carry out over 75 million transactions every month.
Paytm also recently launched its Fastest Expert Delivery initiative in partnership with The Mobile Store to deliver mobile phones within two hours.