What is the Paytm mall? Why and how to become Paytm seller?

When Paytm gained its acceptance as an online money transfer app, it decided to diverge into many other avenues. One such venture is the Paytm mall. Many online shopping centers have been featured over the past years as online shopping has gained worldwide fame. Paytm mall is no different from other e-commerce websites/stores or apps. There are many drawbacks parallel to the highlights discussed further.

How to download Paytm mall?

This app forms a branch of the Paytm app and provides for the users to shop online for a vast variety of products. It hence is a digital shopping mall where one buys all the products that are listed on the website at their comfort.

  1. Firstly, click the install button by going to your play store and finding the Paytm mall app.
  2. You can also go to the app on the Paytm app.
  3. Then, register yourself connecting your Paytm app details.
  4. Once you have authorized your details, you can log in.
  5. Using this app will give you specific benefits and cashback offers.
  6. Usually, within 48 hours the registration procedure is completed.
  7. You may now start using the Paytm mall and bazaar app.

Features of Paytm mall?

The Paytm mall has become a threat to many e-shopping websites and apps. New features on the app:

  1. Merchants now register themselves and accept up to 50K a month to their bank accounts.
  2. The merchants have to click on accept payment and update their account details to receive money.
  3. The wallet balance cannot exceed Rs 20k after which the amount is directed to their bank account.
  4. Adding money becomes faster on a screen. This makes for a faster and instant payment mode.
  5. Paytm passwords now use fingerprints as well.
  6. Users pay anyone just by scanning the recipients QR codes from their phone’s camera.
  7. If you shop online, you may receive a QR code of the merchant that will be seen on your gallery, and you may then upload that on the Paytm mall to pay.
  8. Any queries are addressed on the Paytm community forms.
  9. The mall has a diverse variety and also encourages new/ young entrepreneurs.

How to register as Paytm seller?

Paytm, funded by the Chinese Alibaba group and has entered the Indian markets. It is fast growing and backed by the mobile wallet concept. Paytm started by giving digital mobile and DTH recharging services. It has revolutionized a grown eCommerce website generating a wide variety of goods and services. With this platform recording immense growth in sales and the ever-increasing number of customers, it makes for the best time to initiate selling on Paytm. As an entrepreneur, you may want to list your products and services on this platform. It may also generate you a wholesome of income and may also help you capture your target market. The procedure to register as a seller is as follows;

  1. Complete the process by going to the Paytm website.
  2. Registering as the seller is free.
  3. It takes only a few minutes.
  4. Go to Paytm seller registration.
  5. Provide your details and select a secure password for the account.
  6. Verify your account through the e-mail ID.
  7. Verify your mobile number.
  8. Insert your business information and the address.
  9. Insert the required KYC details and approve the terms and conditions after reading them.
  10. Provide for a catalog of your products.
  11. Finally, begin selling on Paytm.

Documents required for seller registration:

  1. Firstly, a name of the business
  2. The type of business
  3. Enter the phone number
  4. Then the address
  5. After which insert your e-mail address
  6. A scanned copy of the PAN, and it’s number
  7. Moreover, provide for your bank account number and details.
  8. Provide for the copy of a canceled cheque.
  9. Send in your VAT registration.
  10. In case the VAT registration is unavailable the seller can submit a Paytm VAT registration undertaking
  11. Finally, there arises a requirement of a scanned copy of the address.

Steps to becoming a merchant and accept Paytm:

It has become extreme;y easy to accept money through online modes. There is no setup fee and no hardware involved. You can go live almost instantly. The QR code helps you accept digital payments fast through virtual means.

  1. Firstly, the customer will pay you by scanning your assigned/ generated QR code.
  2. You may receive only up to 50K using this method
  3. The amount received throughout the day will enter your bank account on the next day.
  4. Your QR code generates once you authenticate yourself as a seller and approve to receive payments through Paytm.

Why should you associate as a seller on Paytm?

India witnesses an inflammation of eCommerce boosted by cashbacks and discounts. Paytm is one such entrant into such a market, already having over 10 Cr customers and just 60K sellers that serve over five hundred product categories. This happens across 30K pin codes in India. One can become a seller on Paytm as they need not worry about developing and maintaining a website. Hence, helps in focusing on customer orders quickly. Furthermore, becoming a seller on such a platform requires no investment at all anybody can become a seller and eventually step up the ladder of success.

Pros and cons of Paytm app.

Advantages

Disadvantages

Safe and fastTransfer money from Paytm wallet to bank account 2-4%
Provision for e-debit cardThe promotional offers are usually removed
Return money easily to the same bank when in needIt has one of the worst customer supports as no fixed number is given
Get cash back on using Paytm walletTakes up to 7 days for the money to credit the wallet if we return products on Paytm
Less documentation at your home to upgrade the wallet limitLoss of available Paytm cash on a loss of mobile. No authentication using email ID.
KYC customer wallet limit- 25K and Non-KYC customer wallet limit- 20KDependency on the internet while payment makes for an important comparison to paying by cash
Easy and automatic refund to the wallet in case of product cancellation at partner store.It is not available on all major online and offline stores. Means you need a debit/credit card from another bank.
Transfer the money to the bank at any timePaytm never refunds fraud money in case any cyber threats are undertaken.

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