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  1. Paytm records GMV run rate of $1.5 bn in 15 months flat

Paytm records GMV run rate of $1.5 bn in 15 months flat

Paytm claims that last month alone, around 10,000 merchants received orders through its platform

By: | Bangalore | Published: June 4, 2015 12:46 AM

Paytm, India’s largest mobile wallet company, has been scaling its business rapidly. It has clocked a gross merchandise value (GMV) of $1.5 billion in 15 months by targeting its 80 million wallet users.

According to the company, in May alone, around 10,000 merchants received orders through Paytm, whose online marketplace has 10 million products.

“We are very proud that we have been able to become the mobile commerce platform of choice for Indian SME’s and consumers. Currently even the top merchants do not contribute to more than 5-7% of the total sales. I am sure, our benchmark of 10,000 merchants receiving orders on Paytm in the last 30 days is a result of our attention to working with one SME at a time,” Shankar Nath, Senior Vice-President, Paytm, said on Wednesday.

According to the company officials, around 90% of its orders are from unstructured categories like fashion, home furnishing and accessories and they are adding 2-3 million merchants every month on the platform, with full support through its logistics cloud.

“With the logistics cloud, we have been able to connect merchants to a network of courier partners and enablers thereby allowing them to reach to 39,000 pin codes in the country. We also train the merchants efficiently and offer them the facility of mobile messenger so that they can communicate with their customers if need be,” Nath added.

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