Paytm, Alibaba to help sellers sell Chinese products
The Dollar Business Bureau
Paytm on Sunday announced it would give buyers option to purchase over five million Chinese products at affordable prices, as the Indian e- commerce player is looking to up its engagements with Alibaba Group.
The company has identified about 30 credible Indian merchants who will sell Chinese products such as home and kitchen, USB cookers, western fashion and mobile accessories at cheaper rates.
"Inventory is the third pillar of commerce, after logistics and payments, which requires optimisation in India. Sellers who source using Paytm ties are allowed to sell on other marketplaces as well including Flipkart ,Snapdeal, Amazon, ShopClues," said Bhushan Patil , the head of the initiative for Paytm.
"We expect the Indian SME's cost to come down three times with our direct connect. Most SMEs don't import directly, they import from local distributors, and there may be 2-3 steps shuffling, we connect directly. We also offer bonded warehousing facilities, leveraging our tie-ups with import houses and trusted payments with our partnership with Citibank, which further reduces costs at scale," he said.
Under this new arrangement, Indian sellers will be able to directly purchase Chinese goods and sell them off in the country.
Patil said the initiative would helps Indian sellers on Paytm offer new products on its B2C marketplace at a competitive pricing.