Payment gateway and recharge company Paytm has entered into the industrial supply space to aid merchants belonging in the small and medium enterprise industry. This move will assist sellers present on Paytm to venture into the industrial supply market of India which is worth well over Rs.10,000 crore – definitely a plus point for SMEs.
“We already have more than hundred existing merchants on board, who will now be able to find a ready market in India’s bustling industrial supplies space,” said Renu Satti, vice-president-SME business at Paytm. This move will also greatly facilitate SMEs with easy access to business and industrial requirements. “ said Renu Satti, VP-SME Business at Paytm.
Countless merchants from different market spaces like hand tools, power tools, safety & security equipment, test & measurement apparatus, machines, lab supplies, abrasives etc. have collaborated with Paytm to promote and sell their products. Many of these questions have gone live on the Paytm platform.
Backed by Chinese e-commerce heavyweight Alibaba Group Holding Ltd, Paytm has segregated $100 million to help sellers from smaller industries venture into the internet space. By the end of this year, Paytm is also planning to subsidise merchants by the end of this year.
