Paytm crosses 200 million users, launches Paytm Mall app; Vijay Shekhar Sharma says “next milestone, 500 million by 2020”

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Updated: February 27, 2017 3:37:19 PM

Within three years of its launch, e-wallets major Paytm has crossed a user base of 200 million wallets across the country, it said in a statement today.

Sharma?s post on Twitter showed the company was adding 7 lakh users per day. His tweet also mentioned that the total balance in the Paytm wallets stood at Rs 899 crore.

There is only one man who will have a smile on his face whenever the word ‘demonetisation’ pops up! Yes, it is none other than Paytm Founder Vijay Shekhar Sharma. Within three years of its launch, e-wallets major Paytm has crossed a user base of 200 million wallets across the country, it said in a statement today. “Next milestone, 500 Mn by 2020,” Sharma tweeted. He also thanked everyone for support and guidance. “Thank you everyone for your kind support and guidance. We will keep working hard, even more sincerely,” he wrote in a Facebook post. Sharma’s post on Twitter showed the company was adding 7 lakh users per day. His tweet also mentioned that the total balance in the Paytm wallets stood at Rs 899 crore.

In a press statement Deepak Abbot, senior vice-president said, “Reaching 200 million registered users and more than half a million users on a daily basis is a great showcase of the country’s trust in our payment solution and reaffirms our belief in the need for a quick and easy cashless payment method. Going forward, we would continue to drive strong consumer-focused innovation in the category to reach the widest set of merchants and consumers in India.”

 

Paytm E-commerce today also announced the launch of its new Paytm Mall application on Android. Paytm Mall aims to offer a combination of the Mall and Bazaar concepts to Indian consumers. “Only trusted sellers passing strict quality guidelines and qualification criteria will be allowed on the ‘Mall’,” Paytm said in a statement here.

All products listed on the mall will also go through Paytm certified warehouse and shipping channels ensuring guaranteed consumer trust, it said. “We have defined quality criteria for sellers and are building strict controls over warehousing and shipping for products sold on Paytm Mall. Consumers would continue to get the largest assortment of domestic and international products through Paytm Bazaar, which will also be featured on the new app,” said Saurabh Vashishtha, Vice President – Paytm.

Paytm Mall is available on Android, and lists over 68 million products sold by 1.4 lakh sellers spread over 1000 cities and towns across the country. The iOS app is expected soon.

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