Paytm Mall rolls out QR code feature

Paytm Mall rolls out QR code feature

Paytm’s e-marketplace, Paytm Mall, is rolling out a new feature that will allow consumers to place online orders at physical stores using QR Code.

The move, the company said, is aimed at smartphone users, mainly beyond the metros, who still do not shop online.

“Over 95% of the population in the country still shops offline,” said Amit Bagaria, Vice President – Paytm Mall. “There is a trust that exists between an offline retailer and a customer… We want to create an offline network as a platform for brands to reach out to millions of consumers, thereby, optimizing the supply chain and marketing expenses on their behalf.”

He said that the platform will also be beneficial for the partner merchants/retailers as they will be able to garner additional revenue in the form of commission while eliminating the need for keeping the inventory.

To begin with, the feature is being rolled out to sell Samsung’s handsets. The company plans to bring on board all FMCG and consumer product firms.

Consumers can visit the Paytm partner stores in their neighbourhood and scan the QR code using their Paytm or Paytm Mall app to browse and order products. “This will enable shopkeepers to sell products online without having to tackle with inventory management and deliveries,” the company explained.

The seller would earn a percentage margin on each purchase made after scanning the Paytm QR code. This margin is likely to be between 3% and 20% based on the product.

“Paytm is the first company to invest in QR code-based payment solution and has created an offline merchant network where consumers can scan and pay. This is fast becoming ubiquitous for digital payments in the country. Paytm Mall will now leverage this technology and the network to create a platform for brands to reach out to a larger set of consumers,” Mr. Bagaria said.

Source:The Hindu