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eBay expands India presence with agreement with Paytm Mall

20
Jul '19

Pic: Shutterstock

Paytm Mall, an e-commerce marketplace in India, and eBay Inc. recently agreed to make eBay inventory accessible to tens of millions of active customers of the latter. eBay is also making an investment in Paytm Mall and will own nearly 5.5 per cent of the company, which makes international purchases frictionless for customers in the Paytm ecosystem.

“We are deeply committed to India and believe there is huge growth potential and significant opportunity in this dynamic market,” said Jooman Park, eBay senior vice president for Asia Pacific.

“This new relationship will accelerate our cross-border trade efforts in a rapidly growing market, providing hundreds of millions of Paytm and Paytm Mall customers with access to eBay’s unparalleled selection of goods,” and eBay press release quoted Park as saying.

Through technology and strategic partnerships, Paytm Mall has been able to overcome the challenges that cross-border trade presents, such as high delivery costs, returns and long timelines, while ensuring that regulatory requirements are met, including the payment of customs duties, the press release said.

“This new strategic collaboration will ensure Indian consumers are given greater access to eBay’s vast selection of inventory. We’re excited about this relationship with eBay as our cross-border partner and investor and believe together, we will provide buyers and sellers an unparalleled opportunity to discover, engage and transact on our platform,” said said Rudra Dalmia, executive director, Paytm Mall.

The new relationship between the two companies provides eBay sellers the opportunity to reach new customers in a rapidly growing market, while providing Paytm Mall buyers a wide selection of global inventory that would normally be out of reach locally. In the coming weeks, millions of products sourced from eBay sellers around the world will be surfaced on the Paytm Mall shopping experience within the Paytm ecosystem.

In the months since launching eBay.in in early January, eBay has turned its attention to enabling India’s small and medium sized businesses to sell their products to eBay’s 182 million customers around the world.

Paytm Mall is part of India’s largest digital ecosystem, Paytm, which has over 450 million registered customers, over 130 million active users and over 12 million registered merchants. (DS)

Fibre2Fashion News Desk – India