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Wednesday 31 August 2016

Paytm Expected To Raise Rs 2,000 Crores In The New Financial Round

12:59 paytm, Paytm deals, Paytm Expected To Raise Rs 2000 Crores, Paytm promotion codes No comments

One97 Communications, the parent company of Paytm, is in discussions with MediaTek, Goldman Sachs, Temasek and other investors to raise fresh funding of about Rs. 2,000 crores ($300 million)! The company’s existing investors including Alibaba, Alipay and SAIF Partners are also going to participate in this new round.

In the last round of capital infusion in June, Paytm was valued at $2.3 billion, and with this new round, the company’s evaluation will increase to more than double and amount to a whopping $5 billion! This money will be deployed across all the different businesses that Paytm runs, including online marketplace, digital payments and the upcoming payments bank. The Paytm Payment Bank is all set to be launched in October to house the financial services businesses. It is founder Vijay Shekhar Sharma who holds the payments bank license. However, the split of cash between the eCommerce business and payments bank has not yet been determined.

Last year, Ola raised $900 million, Flipkart raised $700 million and Snapdeal raised $500 million. However, this year the amounts have been quite low with Snapdeal having raised $200 million and BigBasket having raised $150 million only. Therefore, if this deal successfully takes place, it will be the largest financial round in India’s internet space this year.

While other marketplaces are having a tough time raising capital this year, Paytm leads in the field because it has established market leadership in consumer payments with exclusive Paytm offers. Forrester Research analyst, Satish Meena says, “In the payments space, they (Paytm) have a big lead and an edge in terms of execution on the ground. They are tapping the next 100 million customers, while other mobile wallets are pushing their services to the same top 50 million customers by offering cashbacks.”

Over the last one year, Paytm has been entering areas like petrol pump payments, taxi payments, movie ticketing and much more. This is what is going to help Paytm raise its monthly gross merchandise value to $500 million by the end of this year. With Alibaba and Alipay having invested Rs. 4,400 crores in 2015, we have to wait and watch how much of capital is invested in the company in this new round.

Paytm’s rivals Mobikwik and Freecharge have recently raised $40 million and $150-200 million respectively since October 2015. Flipkart is expected to launch its mobile payments business under PhonePe very soon and plans to invest $100 million in the project initially. The total payment through digital platforms is expected to reach $500 billion in India by the year 2020!

You can shop and make your bill payments with the largest fund raiser of the year with the Paytmcoupon codes available at Discount Mantra - India’s best online offers and coupons store. You can also subscribe to the newsletters to get the latest offers and coupons from various online stores delivered to your inbox.

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Paytm Wishes To Gain 10 Lakh Digital Wallet Users

16:31 digital wallet, paytm, Paytm coupons No comments

Digital wallet – the cashless mode of payment – that has gone popular now is the last-mile connectivity between technology and domestic service providers. It eliminates the need of carrying any kind of low denomination cash while dealing with any kind of payments. The leading company that is very well known for its Paytm offers has been providing this facility for the past eight months.

Today, more than 3 lakh people employed in the unorganized sector like laundry men, taxi drivers and auto-rickshaw drivers today avail Paytm’s digital wallet facility too! They say that this technology has helped scale up their efficiency and grow their business up to a great 20%! Taxi drivers have reported to save an extra Rs.1000-1500 per month with their Paytm wallet through cashbacks and other incentives.

Paytm is looking to increase this number from three to a whopping 10 lakh customers in the unorganized sector! Kumar Aditya, Vice-President of Paytm, who leads the company’s offline business in the unorganized sector said, “This fiscal, we will expand operations from 12 cities now to 20 cities and increase our subscribers to 10 lakh.” He said that the digital wallet facility helps users save time and money with ease of transactions and savings by eliminating the hassles or delays related to money change. This is made even easier by many resident welfare associations who help cab drivers and other domestic service providers to open a digital wallet account.

You can also benefit from this digital wallet and can avail greater advantages on your bills by shopping with the Paytm coupons available at Discount Mantra - India’s best online offers and coupons store. You can also subscribe to the newsletters to get the latest offers and coupons from various online stores delivered to your inbox.

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Snapdeal Has Made Changes To Its Policies For Benefit of Sellers

17:17 snapdeal, Snapdeal Coupon Codes, Snapdeal Coupons, Snapdeal Deals, Snapdeal Discounts No comments

Apart from offering innumerous Snapdeal discounts to its customers, the company is also working on providing discounts to its sellers. This is why Snapdeal has reduced the marketing fees in order to attract more and more sellers to deal on its platform. This reduction has been made for more than 120 sub-categories including fashion products, electronics, digital products and more. Snapdeal has come up with this change on the basis of the feedback received from sellers on its platform, and it will be seen to be active within a few days.

Vishal Chadha, senior Vice-President of Market Development at Snapdeal said, “We believe reduction in marketing fees will foster growth for our sellers. We have worked closely with our sellers and based on their feedback, we have made these policy changes to make them in-line with eCommerce industry’s best practices.”

Moreover, the company has also simplified the policies for its self-serve platform, which will make it easier for the sellers to resolve their queries easily. This will avoid enabling penalties on the sellers due to any kind of complexity or ignorance. Snapdeal has also said that it will bear the cost for reverse pickup and payment collection in case of return or exchange of sold goods. On the other hand, the costs involved with packaging and shipping will be borne by the sellers.

The main motive of the company is to make the journey of the sellers on its platform more smooth and transparent, which is why it announces this change. However, there has been an increase in the marketing fee for about 30 sub-categories. The reduction in fee ranges from 0.2-18% and the increase ranges from 0.5-5.5%. As a customer, you can benefit too by shopping at the platform with the exclusive Snapdeal coupons available at Discount Mantra - India’s best online offers and coupons store. You can also subscribe to the newsletters to get the latest offers and coupons from various online stores delivered to your inbox.

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eCommerce Firms Are Back With Their Sales After A Three Month Period

18:33 amazon, ecommerce, flipkart, offers, snapdeal No comments

The government had banned online marketplaces that receive foreign direct investment (FDI) from influencing product prices in March. This is why Flipkart, Myntra, Snapdeal and Amazon had temporarily suspended sales events in April to comply with the new regulations and to avoid potential punishment from regulators. But, these firms have again started sale events since the past few days. They are offering 20 to 90% discounts on a wide range of products including apparel, footwear and fashion accessories in their end-of-season sales. They also promoted their sales extensively with front page ads in national newspapers. So, you can now start shopping for the amazing Flipkart, Amazon and Snapdeal offers again!

The government had allowed 100% FDI in online retail in order to legitimize the existing businesses of eCommerce firms in India. However, it also stated that matketplaces cannot influence product prices and services on their platforms directly or indirectly. It also stated that sellers cannot contribute more than 25% of the sales of any marketplace. The government had taken this step so that the online retailers could find new ways of giving discounts. This step was taken after the offline retailers filed a case against online retailers stating that they were violating FDI rules by selling directly to customers. So now, it will be interesting to watch how these offline retailers will react to these big sale events brought up by eCommerce firms.

Before these sales, the eCommerce firms has reported that they were seeing weak sales numbers because of lower discounts and a pullback in advertising after the FDI rules. For the first time, online retail sales in April were lower than that in December last year. However, after these sales, eCommerce sales are happy again! Online fashion retailer (and a subset of Flipkart) Myntra has seen an increase of 23 times its daily sales during its ‘End Of Reason Sale’ held for two days. It saw more than 37 million visits in two days, out of which 30% shoppers were first-time buyers on the site! So what if the sale is over? You can still shop for your favourite fashion products with the latest Myntra and Flipkart Coupon codes available at Discount Mantra - India’s best online offers and coupons store. You can also subscribe to the newsletters to get the latest offers and coupons from various online stores delivered to your inbox.