Oct 08, 2016 02:21 PM
5040 Views
Paytm is an Indian e-Commerce venture that is based in India and caters mostly for local players. Since 2010 it expanded its reach and grew beyond a regular FinTech into a fully fledged online store. It still offers mobile recharging and bill payment services, but now covers other aspects of online trading. They run a similar venture as Amazon, Flipkart, Shopee and OLX, albeit at a much smaller scale. It recently added a service allowing users to book bus tickets and buy cinema tickets.
Paytm allows users to view tariff plans and recharge them using major prepaid mobile Indian operators.
The new features make it possible for customers to scan and use the QR codes to pay at local stores.
Paytm remembers all the mobile charging details, so those who use the service can recharge instantly.
Customers are occasionally offered cash backs and discounted coupons.
Paytm has its own wallet, which allows customers to pay for cab, bus and auto rides in India.
Paytm is probably a good option for those who use the service for mobile recharging and bill payments. They have the experience and offer an alternative to spending long hours queuing. The fact that they only cater for Indian customers obviously has a deterring effect on those who reside beyond borders. However, as an e-commerce venture, they are so far behind the leaders that prospective clients would be better off taking their business elsewhere.
Even Indian shoppers prefer Flipkart and OLX, which offer better customer protections and have more items on display. The upside of being able to sell as well as buy items gives these companies the upper hand. There is also the sensitive issue of the numerous complaints made by former customers in regard to cashback and reimbursements. Many of them are probably not genuine, but it’s always difficult to take chances when there are so many other worthy alternatives. As far as I’m concerned, I’m willing to give them the benefit of doubt, but can’t go beyond a review score of 7.5 out of 10.
