Hence forth it won’t be easy for sellers to register on Paytm mall – an e-commerce division of Paytm. This is because it has imposed several new mandatory rules on existing sellers as well prospective sellers wanting to register on their e commerce platform. These new rules that will help to keep a check against fraudulent sellers and cheap products have already led to delisting of 85,000 sellers from their platform.
According to the new rules, now sellers will have to compulsorily furnish brand authorization letters to validate the quality of their product. Additionally, they will have to produce registration number, shop location and photos, and goods and services tax identification number (GSTIN).
Paytm Mall has said in a statement that the delisting process so far hasn’t adversely affected its sales volumes and transactions. It further said that their aim is set new benchmark for reputed local shop keepers and brands sold on our platform.
Interestingly, the new rules have come barely a week after the company said that it is aiming to increase its partner network with 3,000 new agents in a bid to enhance its presence in Tier II and Tier III cities.
Paytm Mall is not the lone fighter against sub-standard products or fake products selling on its platform. Recently several big e commerce players including Chinese juggernaut Alibaba, which is one of the main investors in Paytm, have raised red flag against fake products selling on their platform.
Paytm Mall came into existence only last year after Paytm’s parent company One97 Communications decided to separate its e commerce business from its digital payment business. Immediately after this major overhaul, Paytm Mall received $200 million from its existing investor Alibaba and Saif Partners.
The One97 Communications recently announced some bold decisions in a bid to expand its e commerce business, including the plan to shift 800 employees to its e commerce division and plans to hire 2,000 more in a year. Paytm Mall is still a niche player in the e commerce sector and probably has a mountain to climb to challenge the monopoly of big players like Flipkart and Amazon.
