Paytm Mall, the m-commerce arm of Noida-based Paytm Ecommerce, has delisted over 85,000 sellers and their products for failing to meet its strict quality standards, the company said in a statement. This is part the revamping of seller on-boarding process by the firm.
The SoftBank-backed firm has now made it mandatory for sellers to furnish brand authorisation letters. They will undergo strict quality and service audits that will include their registration number, shop location, and shop photos, among others in order to list. According to Paytm, the criteria block potential fraudulent merchant on signing up and creating a bad customer experience on the platform.
Amit Sinha, Chief Operating Officer, Paytm Mall, said: “Our goal is to set the benchmark for a platform that empowers reputed local shopkeepers and brands to sell quality merchandise. We will work closely with existing sellers, and continue on-boarding further. This will help us offer a superior consumer experience.”
In addition to the revised measures, Paytm Mall will enable brands and shopkeepers to set the return, exchange and refund policies for their products being sold on the platform. The platform will offer complete logistic support to brands and shops through its network of logistics partners.
Paytm Mall provides the shops with Paytm Mall QR Code solution, which consumers will be able to scan to browse their products and place an order instantly. This will empower local shops to get additional revenues from customers who will be able to buy their products online.
It is scaling its partner network by adding 3,000 agents to its existing workforce as it goes deeper into tier II and tier III cities, digitising catalogues of neighbourhood shopkeepers and brands authorised stores. It will leverage mobile technology to make this wide retail inventory available to millions of Indians, while helping trusted retailers reach out to a wider set of customers around them.
Founded in 2008 and run by One97 Communications, Paytm has been a key player in the e-commerce and payments segments in India. Started off as a mobile recharge company, Paytm later expanded into digital commerce space. A few weeks ago, the company created two entities — Paytm E-commerce and Paytm Payments Bank.
The firm recently unveiled its much-awaited Paytm Payments Bank, which offers cashbacks on deposits. Every customer will get a cashback of INR 250 (under US$4) as soon he/she brings deposits of a total of INR 25,000 (US$386) in the bank account. The account will have zero balance requirement and every online transaction (such as IMPS, NEFT, RTGS) will be free of charge.
A few days before this development, it raised US$1.4 billion in fresh funding from SoftBank.