The app has been designed with an aim to connect small businesses and consumers, iamware.com reports. The company will not charge merchants commission on their sales. Paytm claims to have around 33,000 merchants on its web platform, and targets to have 100,000 merchants on its app by the end of 2015.
In addition to its existing ecommerce platform, this move will help to achieve half of its total revenue target of USD 4 billion by the end of 2015. The company plans to grow the stock-keeping units up to 100 million by the year end, up from 8.5 million today.
Apart from this, Paytm has also introduced a Wallet app for transferring money to friends and family in an instant and Vijay Shekhar Sharma, Paytm CEO, also announced that Paytm has crossed over 60 million wallets on its platform and aims to reach over 100 million by the end of 2015.
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