Tag: Ant Financial

Indian mobile commerce firm to launch new hyperlocal service

Paytm will be launching hyperlocal services in the near future

Paytm, one of India’s leading mobile commerce firms, is gearing up to launch new hyperlocal services that consumers may find valuable. Such services have already established a foothold in India, with consumers using them to find deals and special offers in their local areas. Paytm believes that consumers using the service will become more involved with mobile commerce, as it will allow them to rely more on their mobile devices when shopping and ordering food.

Hyperlocal services may encourage more consumers to become involved in mobile commerce

Initially, the hyperlocal service coming from Paytm will focus on food ordering, table booking, purchasing cinema tickets, and finding deals in their neighborhood. The company has patrnered with BookMyShow and Zomato in order to make the service available. Paytm has high hopes for the hyperlocal service, hoping to bring in nearly half of its total sales from this channel specifically by 2016. This goal may be very attainable, as many consumers have become heavily invested in mobile commerce as a whole.

Hyperlocal may be the next big opportunity for retailers and mobile commerce firms

Mobile Commerce - Flag of IndiaVijay Shekhar Sharma, founder and CEO of Paytm, believes that hyperlocal services are the “next big thing” for the mobile commerce space. He believes that hyperlocal services represent the perfect blend of the convenience of mobile shopping and the engagement potential that retails see in the mobile market. With smartphone penetration on the rise in India, as well as the expansion of the country’s mobile network infrastructure, more consumers are expected to become involved in mobile commerce in the coming years.

Paytm is receiving strong support from foreign companies

Paytm has reached the 100 million user mark and the company suggests that its user base, as a collective, makes 75 million mobile transactions every month. Paytm has experienced so much growth and success that it has also attracted the support of other companies involved in mobile commerce. China’s Alibaba and Ant Financial recently invested in Paytm through One97 Communications, its parent company. This investment is expected to help Paytm expand its services throughout India.

New mobile commerce firm wins investment support from Alibab and Ant Financial

Koubei has won the interest of two of China’s largest companies

Chinese e-commerce mammoth Alibaba and Ant Financial, another prominent company in China, have each invested $483 million into Koubei, a joint venture in the mobile commerce space. Koubei is designed to provide consumers with the ability to order and pay for products from local services operating in China. Doing so can be accomplished over a smartphone, and the initial launch of this service will focus on food and beverage delivery.

Koubei aims to give consumers and merchants a new way to interact with one another

Those using Koubei will be able to use the Alipay Wallet to make mobile purchases. They may also be able to use the Taobao mobile application, which is controlled by Alibaba. Though the initial launch of the service will focus on the food and beverage segment, Koubei will expand to include local merchants, providing consumers with a way to purchase products from stores in their area. Koubkei may also provide merchants with promising marketing opportunities, giving them a platform from which to launch promotion campaigns and reach new mobile consumers.

Mobile commerce platform will serve as a boost for Alibaba and Ant Financial

Mobile Commerce - Company InvestmentKoubei intends to build a local services ecosystem that will be a benefit to merchants and consumers alike. This is something that Alibaba has shown significant interest in, as the company has its own food ordering and delivery business in the Tao Diandian brand. Ant Financial also has an interest in the mobile commerce ventures of Koubei, as the company has been involved in the mobile space for some time, managing Alibaba’s Alipay platform and making it possible for a wide range of consumers to purchase products from their mobile devices.

Mobile commerce continues to thrives in China

China has become one of the most robust mobile markets in the world. Smartphone penetration is high, and consumers have shown a great deal of interest in being able to shop for and purchase products with their mobile devices through a variety of platforms. Koubei will be one of the latest mobile commerce platforms to launch in China, and the support it has received from Alibaba and Ant Financial will give it a competitive edge.