Enriching content on the ecommerce sites and offering live streaming etc. is slowly becoming the new norm. First kicked off by Amazon with its Prime Video offer, every player in the space wants to be seen with these features. Come September, Paytm will join the bandwagon with news, short videos and live TV, as part of its digital wallet platform, an Economic Times report states. There is no clarity if Paytm Mall customers will have access to these features since the company has been separating the ecommerce site from the parent entity One97 Communications.
Paytm hopes to add more customers to its platform through the new offerings. According to the company, they are currently seeing 27 million customers logging into the Paytm inbox and they claim they expect it to grow multiple times this figure.
One way the app has found to popularize, through its marketing efforts is to enter into tie-ups with smartphone manufacturers including Xiaomi, Vivo and Oppo. The arrangement is these phone makers will pre-load the Paytm app on their smartphones so that users can start using them right away.
It is believed most of the buyers of these smartphones, at least 60% of them are first time users of smartphones thanks to the affordable pricing the brands employ. This means when they start using the Paytm app, they become new additions to the customer base.
I addition to all these, Paytm is working on adding a few more payments, like municipal taxes and traffic fines collected by the police etc. into its payment mode. This will be another way to expand the reach of the app.
Users of the digital payment platforms and ecommerce sites are in for some interesting times going forth as each one competes with the other in order to lure the customers.