The very popular digital money transfer app Paytm is on a journey to spread its wings. The makers have decided to expand their business. They are intending to construct an all-new Retail market for themselves via developing a model that would aid people having businesses like shops with facilities like, technology, logistics, and marketing capabilities. As per the details provided about the model, it would allow its customers to place orders easily and get them delivered as soon as possible.
Another report said that Paytm is also planning to build a P2P logistics in collaboration with a rider network that has its popularity all across the country. This would probably help it in the fast deliveries to be accomplished inside a city. The company has joined hands with many of the local shops, restaurants, pharmacies, and groceries. The shops would, therefore, accept money and sell products with the help of the services offered by the new retail service.
Vijay Shekhar Sharma, the CEO of Paytm asserted, "We will work with local restaurants, grocery stores, and pharmacies to enable them for local ordering and delivery. Renu will lead the New Retail initiative and she has resigned from bank CEO position. Local ordering is expected to become one-third of Paytmorders and GMV by 2020.”
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