Paytm to Invest $5 Million to Address Needs of Shopkeepers

Paytm Mall, owned by Paytm Ecommerce, on Wednesday said it will support its shopkeepers to take on online retailers and will invest up to $5 million (roughly Rs. 32 crores) to address the needs of its partner retailers.

"We will continue engaging with our partnered retailers to build our inclusion programme and enhance their businesses. This will create new jobs and further support our nation," chief operating officer of Paytm Mall, Amit Sinha said in a statement.

Paytm Mall has also introduced a retailer inclusion programme, under which the company will invest $5 million and has set up a dedicated team of 500 personnel to address the unique needs of these retailers, he said.

This team acts as a direct link between the company and its partner retailers, who meet them on a regular basis to receive their feedback, understand their challenges and offer necessary support for their growth.

Paytm Mall aims to become the technology partner of retailers and brands, enabling them to set up stores online.

It expects that through technology, shopkeepers can leverage the power of mobile and generate additional sales through the Paytm Mall platform to increase their business.

The company would also facilitate access to working capital loans, a major pain-point for every small retailer and play a critical role in their growth plans, it said.

Disclosure: Paytm's parent company One97 is an investor in Gadgets 360.