One97 Communications Ltd, a mobile internet company has launched an exclusive mobile-only commerce site via its PayTM App.
Noida based One97, which already owns & operates payment processing application PayTM, will now add online shopping for products & merchandise via the same application. The Mobile Only extension or mCommerce endeavor will go live at the end of this month & will feature diverse verticals like apparels, home decor and accessories to being with, shared Vijay Shekhar Sharma, Chairman and Managing Director, One97.
“We understand that the country needs a mobile marketplace, because mobile has now become the first device for SMEs as well as consumers. Here, we are creating a bottom-up mobile-only marketplace where consumers meet merchants. It is not the baby site of an internet, but is a pure mobile app.”
mCommerce is certainly not a new concept & One97 will have to compete with the likes of Amazon, eBay, Snapdeal, Flipkart & many others who not only have the exact same profile, but who have been in the business for a long time. In fact, many of the players have routinely tweaked their application & interface after understanding how the mCommerce works.
PayTM on the other hand, has been a very elementary platform in comparison to these applications. The app offered mobile & DTH recharges & had recently started to offer bus tickets as well. However, PayTM has been evolving quickly. Early this month, the company had announced deployment of a semi-closed wallet, post successfully securing license from Reserve Bank of India (RBI). This will also allow consumers to use the new semi-closed wallet across several online merchants.
And this precisely what PayTM will work on. Though PayTM will list the merchandise & customers will be able to pay using the PayTM wallet and then checkout, the items will be home-delivered by respective merchants. Essentially, the order fulfillment will be taken care of by the respective retailer.
Being able to offer an all-inclusive platform that allows shopping as well as payment via a mobile interface is certainly a much desired trait. But the mobile screen has traditionally been considered too tiny to have a satisfactory shopping experience. What do you think?
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