Paytm, Indian mobile payments and commerce platform has acquired the team at Shopsity, a Delhi-based startup that offered O2O solutions to small retail stores. This move is in line with Paytm’s vision to create strong seller-focused services for its offline merchants.
Shopsity is focused on small unorganized retailers, providing them with tools to attract and retain customers. Co-founders Danish Ahmed and Gaurav Arya have joined Paytm’s management and are actively working to strengthen seller services for the 800,000 strong offline sellers on the Paytm ecosystem.
Madhur Deora, Chief Financial Officer at Paytm said,”Shopsity has done a great job at providing innovative solutions to small offline retailers. By integrating their technology with our advanced seller services, we will be able to offer additional solutions to our fast-growing family of small offline merchants. We would like to welcome Danish and Gaurav to Paytm and our offline merchants team. I am confident this acquisition will offer further momentum to our online-to-offline commerce segment.”
Speaking on the development, Danish Ahmed, co-founder at Shopsity said, “Paytm is doing phenomenal stuff in the offline commerce space, and we are very excited to join the team and build a platform that enables small retailers to ride the digital wave. Millions of retailers are using Paytm to accept payments today, and we're working hard to bring an entire suite of digital services to them."
Apart from this, Paytm has also announced that it has touched a record number of payment transactions. Led by unprecedented growth in offline payments, the company has touched a record 5 million transactions a day and is on the way to process over Rs. 24,000 crores, more than any other payment network in the country.
With the current user base of more than 150 million, Paytm is on a mission to bring half a billion Indians into the mainstream of the economy using mobile payment, commerce and soon to be launched payment banking services. Consumer brand of India’s leading mobile internet company One97 Communications, Paytm is headquartered in New Delhi NCR. The company’s investors include Ant Financials (Alipay), Alibaba Group, SAIF Partners, Sapphire Venture, Mediatek and Silicon Valley Bank.
Shopsity is focused on small unorganized retailers, providing them with tools to attract and retain customers. Co-founders Danish Ahmed and Gaurav Arya have joined Paytm’s management and are actively working to strengthen seller services for the 800,000 strong offline sellers on the Paytm ecosystem.
Madhur Deora, Chief Financial Officer at Paytm said,”Shopsity has done a great job at providing innovative solutions to small offline retailers. By integrating their technology with our advanced seller services, we will be able to offer additional solutions to our fast-growing family of small offline merchants. We would like to welcome Danish and Gaurav to Paytm and our offline merchants team. I am confident this acquisition will offer further momentum to our online-to-offline commerce segment.”
Speaking on the development, Danish Ahmed, co-founder at Shopsity said, “Paytm is doing phenomenal stuff in the offline commerce space, and we are very excited to join the team and build a platform that enables small retailers to ride the digital wave. Millions of retailers are using Paytm to accept payments today, and we're working hard to bring an entire suite of digital services to them."
Apart from this, Paytm has also announced that it has touched a record number of payment transactions. Led by unprecedented growth in offline payments, the company has touched a record 5 million transactions a day and is on the way to process over Rs. 24,000 crores, more than any other payment network in the country.
With the current user base of more than 150 million, Paytm is on a mission to bring half a billion Indians into the mainstream of the economy using mobile payment, commerce and soon to be launched payment banking services. Consumer brand of India’s leading mobile internet company One97 Communications, Paytm is headquartered in New Delhi NCR. The company’s investors include Ant Financials (Alipay), Alibaba Group, SAIF Partners, Sapphire Venture, Mediatek and Silicon Valley Bank.
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