In India, up to 80 percent of retail stores are not equipped with technology for billing and inventory management
Paytm Mall on Monday announced offers, including no-cost EMI, device insurance, easy exchange and extended warranty, both online and through its offline partner stores. It targets to drive over 25 percent growth in gross revenue for its partner retail stores by the end of financial year 2019.
The no-cost EMI has been launched in partnership with 13 leading banks and financial institutions and will allow over 10 million customers to purchase products under EMI.
It will also offer EMIs worth Rs 1,000 crore across 2 million products from 60 leading brands by the end of next quarter.
“We all have a trusted store in our neighborhood that delivers goods to our home and is always available. We clear our dues when we get some money in hand and feel free to ask small favours like exchange. We want to leverage retail technology to recreate the same convenience and trust at scale and make shopping truly affordable for the Indian masses. The variety and depth of our new services will help brand authorised retailers offer this experience to millions of potential customers while opening newer products to a wider audience,” said Amit Sinha, COO, Paytm Mall.
It will also offer easy exchange across 7,000 pin codes, affordable device insurance, extended warranty services starting at Rs 199 across over 75,000 partner retail stores.
In India, up to 80 percent of retail stores are not equipped with technology for billing and inventory management.
For such stores, Paytm Mall recently introduced its PoS as a unified solution that enables them to manage store inventory on the cloud with visibility of required stock, pending and serviced orders, instant customer payments, new offers and exclusive promotions like free extended warranty and device insurance.
It plans to invest USD 30 million in the next one year to develop and roll out connected Point of Sale (PoS) solutions across over one lakh retail stores. Last month, Paytm Mall raised around Rs 2,900 crore from SoftBank and Alibaba.