Paytm to roll new retail model for instant deliveries
Digital payments company Paytm is now on an expansion spree to build a 'New Retail' model to equip shopkeepers with technology, logistics and marketing capabilities.
Under this model, which the consumers will soon be able to discover, will enable customers to place orders and get instant deliveries.
Paytm is also building P2P logistics with a rider network spread across the country which will be utilized for intra-city deliveries.
The company has already partnered with a large network of local shops, restaurants, pharmacies and groceries for accepting Payments and will soon extend 'New Retail' services to them.
It has built and dominated multiple every day payment use-cases with a million order a day milestone being achieved. With food ordering and groceries also reaching the same scale, the company is partnering with national grocery & food chains and online platforms to power 'New Retail'.
Renu Satti, who will lead the charge as COO of this new initiative, has earlier built businesses ground that include marketplace, movie ticketing and most recently Paytm Payments Bank.
"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 Paytm orders and GMV by 2020," said founder and CEO - Paytm, Vijay Shekhar Sharma.