Alibaba-backed Paytm Mall, the ecommerce platform, is planning to start cross-border shipping of Indian brands to China on its platform.
The online retail platform, which has an office in Hangzhou province, will ship Indian products to China within seven days of order placement.
“We want to help 100,000 Indian SMEs sell in China. We will help them build a catalogue in the Chinese language and would want even Indian brands like Raymonds and Eicher Motors to sell in China,” Vijay Shekhar Sharma, CEO of Paytm said on the sidelines of the Alibaba Group Global Netpreneur Conference. Alipay Plus, the wallet ecosystem created by Ant Financial and its investee companies, will help process cross-border transactions, he said.
He added that right now, he doesn’t have a wallet aggregator like a card aggregator. Ant Financial will build this, where users can pay through Alipay and partners.
Paytm is trying to spread its offerings in every possible category.
Recently, Paytm Mall announced that it is shifting from being an online marketplace-only model to an online-to-offline (O2O) commerce one. The platform will enable physical stores to display QR codes, allowing customers to scan the code, browse and shop from the store’s catalogue on Paytm Mall.
“We had to chase growth by throwing money but now that has come down. We recently raised $200 million for Paytm Mall and that’s a lot of money if we are not reckless with it. Now, it is long-term capital and companies are not doing that,” said Sharma.
To gain foothold in event and movie ticketing space, the company had invested Rs 35 crore for majority stake in Insider.in.
Additionally, to up its ante in grocery e-tailing, it said to have in talks with Bigbasket for a majority stake in the Bengaluru based online grocer. With this investment, Paytm Mall aims to strengthen its online-to-offline strategy using BigBasket’s partnerships with corner stores.