Tag: paytm

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.

McDonald’s brings mobile payments support to China stores

McDonald’s teams with Ant Financial in order to support mobile shoppers

McDonald’s has partnered with China’s Ant Financial, a subsidiary of Alibaba, in order to support mobile payments. The company sees major promise in China’s mobile commerce market, especially as consumers begin to look for ways to pay for products in a convenient fashion. Some 2,100 of McDonald’s stores in China will now be accepting payments made through Alipay, which is the country’s most prominent mobile payments service.

Company has plans to fully support mobile payments in China by 2016

McDonald’s stores in Shanghai will be the first to begin supporting mobile payments. By March of 2016, all of the company’s stores in China will be accepting mobile transactions. Ant Financial suggests that consumers using Alipay can complete a transaction in only two seconds, which will ensure that they have access to a convenient service. In order to initiate a mobile transaction, consumers will only have to scan QR codes, which have become prominent tools in the mobile commerce space.

Alibaba continues to show aggressive support of the mobile commerce market in Asia

Mobile Payments - McDonald'sAlibaba has been playing a major role in Asia’s mobile commerce space. The company has already established a dominant lead in the Chinese e-commerce space and has moved aggressively into the mobile payments field. Recently, Alibaba announced that it was investing more money into India’s mobile commerce market, forming a deal with that country’s leading mobile payments company, Paytm. The deal is estimated to be valued at $680 million and is expected to have a major impact on how Paytm supports the growth of mobile commerce in India.

McDonald’s stores in the US already support mobile payments made through various services

In the United States, McDonald’s has already become involved in the mobile payments space. The company accepts mobile transactions coming from a variety of services, including Samsung Pay and Android Pay. In some cases, QR codes are used to initiate transactions, but NFC technology is also used as an effective way to engage consumers using their mobile devices to make purchases.