The Introduction of Paytm in our day to day life
How to sell on paytm? When it was introduced?
Paytm was leading begun as an e-wallet in the year 2010.
The paytm started by Vijay Shekhar Verma. It commenced with a capital of 2 million. Originally, it only rendered a mobile recharge facility. However, over the years it grew its base. Now offering numerous services. The services provided by patym.
- Ticket booking- movie, train and flight.
- Bill payments - Electricity, DTH, Broadband, Water and Gas.
- Credit card bookings
- UPI money transfer
- Shop on mall
- Gifts vouchers
Many more services like these are provided. This is how to sell on paytm. The services are also sold on paytm.
It also renders financial services.
- Appealing for loans
- Monitoring credit score
- Insurance services
- Helps you buy gold
- Let one spend in mutual funds along with other services.
Apart from these, it also provides prolongs gaming and gifting amenities.
The excellent growth as an e-commerce portal, it secures funding from another portal online. Even it has managed to acquire a few startups operating in various areas like tourism, health, education etc.
The Startups acquired by Paytm are:
But how to sell on paytm?
Achievements of paytm
- In 2012 Paytm is recognized - Most Innovative Startup of the Year. In Entrepreneur India event organized by Franchise India.
- The year 2013 made lots of achievements for Paytm
- Gold Winner at the MMA Smarties for E-Commerce.
- Wins a special mention in m Billionth Awards - mCommerce/mbusiness category.
- Knowledge Faber Best Mobile Wallet Program Award.
- In the year of 2014 again paytm puts its brighter steps towards success.
- Gold Winner at the MMA Smarties in the category of Mobile App.
- Silver Winner at the MMA Smarties in the mCommerce category.
- At the 4th India Digital Awards -Best Mobile Money product.
Way the users can register on the paytm app
- Users at first need to open an account with Paytm Money.
- After that, they have to go complete the Know-Your-Client (KYC) process.
- Then users have to link their bank account with paytm.
- When users want to buy any product or service say mutual fund. Money from their linked bank account will be deducted. Go straight to their mutual fund. After, this they will receive units in return.
Why Paytm is an applicable choice for sellers?
Being the applicable choice how to sell on paytm?
Paytm is an applicable choice for sellers since it began in 2010. Its online shopping facility plus bill payment services have been rising nowadays.
But the question remains to be that how to sell on paytm?
According to fresh statistics:
- Paytm has a customer base of over 300 million registered users.
- Monthly users of Patym approx. are 9.2 crore
- Paytm has above 60,000 sellers.
- Trading in a higher amount of product categories approx. 500
The significant benefit of selling on Paytm is one has free maintenance and extension value. As a seller, one only requires to direct on sales and the essence of the product.
People who can become a member of selling on Patym
- Limited Liability Partnership (LLP) can sell products online. The LLP Registration is a must for selling on paytm.
- Public Limited Company can register for selling on paytm.
- One Person Company registered can apply for selling products on paytm.
- Private Limited Companies can enrol in PAYTM. All the transactions will obtain by the corporate entity.
- Partnership Firm can enrol for trading on paytm.
- A person in his or her personal potential can go for enrollment. Can trade his goods by the paytm platform.
Documents are required to become a paytm seller
The documentation required for how to sell on paytm.
- Private Limited Company, Partnership, LLP or Proprietorship name plus address proof.
- Name of the Business
- Business name and address proof.
- Rental agreement
- Phone number
- The email address of the seller.
- A copy of the Passport.
- Certificate of incorporation
- PAN number
- Aadhar card
- PAN card scan copy
- Bank name
- Bank account number
- Account name
- Bank branch name
- Bank IFSC code
- Copy of a cancelled cheque
- Bank statement
- VAT registration
- In case VAT registration is not available, then the seller must submit a Paytm VAT registration undertaking.
- Scan copy of address proof
- Electricity bill
All the documents listed above should be complete and attested. The complete detail needs to be mention in all the documents.
Reason to sell on Paytm
E-commerce these days filled with cashback and discounts. The customers are liking these cashback and discount concept a lot. Paytm is the succeeding vigorous thing when it evolves to pick from trading platforms. The Pros of selling on this platform. Take a look.
- 1st mobile-only marketplace in India is Paytm. One can receive the privileges of the 1st player benefit. Feel the safest experience in selling products and option. Also, They have experts in the payment domain.
- The Startups can find the best opportunity for their healthy growth with Paytm. The level of competition is moderately low as contrasted to additional e-commerce giants like Snapdeal, Flipkart, Amazon etc . Where it catches years to get a hold in customer’s thought.
- Transfer money from Paytm to the bank account as inexpensive as 2.04%,
- Receive Cashbacks on the stores using Payton's wallet money.
- Forming traffic to your domain is not issuable with 5 million or above user base. Also, operating on a platform of paytm has an operating on a platform which has now succeeded reliability. The goodwill is a perfect kickstart for one career plan.
Steps for selling on paytm
Caters to these steps to know how to sell on paytm.
- Step 1 - Every document mentioned above should be ready.
- Step 2 - Log into the URL(the address of a World Wide Web page) of paytm seller.
- Step 3 - SIGN UP form requires to be filled and submit all the important details like address, email address, name and documentation.
- Step 4 - An Email is sent on the registered email address mentioned by the seller. Also, SMS is sent a registered phone number. All this is done for the verification.
- Step 5 - After the verification process is completed. The KYC Document needs to be submitted. The KYC process requires ID proof and the address proof of the person or entity.
- Step 6 - The products will then be listed. For excellent user experience, one can involve a licensed photographer and model to display products in an attractive manner.
- Step 7 - The listed items can be placed on Paytm as well as promoted on your own website. There are no enrollment fees for the listing of the goods on Paytm.
- Step 8 - Hosting of the products paytm charges some amount. After completing all the steps of selling on paytm, the seller marketing its products on Paytm. When the goods getting start getting booked. You will receive an email verification.
How To Create Seller Account
Points to keep in mind – read this first:
- Need to have GST registration, PAN registration and Aadhar card registration. Examine and scan every document into electronic format to upload to Paytm throughout the registration process.
- Mobile needs to be handy with all the verification process. You may receive a message or call fro Paytm.
- Manage all the identity proofs, registration, certificate and address proofs scanned and available in electronic format.
- Prepare a scanned copy of the cancelled cheque.
- Must have all the scanned copies of address and identity proof i.e electricity bill, passport and driving licence etc.
- Copy of rental agreement in case you are at rent premises.
- One can register as a company or an individual seller. Relevant documents need to save for all type.
If one is filing an individual the need to have a handy bank statement, Aadhar and PAN.
If one is enrolling as a company. then the company GST, PAN, registration, address and additional details necessitate plus available.
How sellers can boost sale on paytm?
For sellers, it's essential that buyers do find their products easily on the website. They can help them through easy modes.
- In product line enter the searchable words.
- Create Description of product comprehensive.
- Search engine optimization helps the most in the searching product.
- Join in various promotions as conceivable.
- Keep updating stocks and price.
- Create a catalogue for social share to advertise products on multiple social media sites.
Working of the paytm app
Paytm Money Ltd is an enrolled investment adviser with the capital market regulator and the SEBI (Securities and Exchange Board of India). Paytm Money functions exactly like any financial adviser that provides guidance on buying mutual funds and costs fee in return. It is possible that Paytm Money is similar to any other online platform by which one can buy funds.
Customers will be apt to purchase mutual funds straight from their bank accounts. They do not require to save money in their Paytm wallets. Paytm Money maintains investing from 190 banks and more than that. Within net banking,auto-pay e-mandates, and physical mandates.
Services app will offer
Paytm Money will simply sell direct plans of all mutual fund schemes. The expense ratio in direct plans is less as they do not have distributor commissions set in them. Such plans are proposed for people who wish to invest with the fund house. Directly or on their own by third-party apps.
Usually, Paytm Money will offer SIPs investment plans at a low price of Rs 100 in some schemes. This activity will effort to target particular investors in smaller cities.
Also, Paytm Money has joined up with highly rating services such as CRISIL, MorningStar and Value Research. The users will receive a free review of all fund’s performance in series to facilitate their process of decision-making.
The Goods & Service Tax (GST) is charged on all the services of the company. As paytm is an e-commerce application plus digital wallet. The @18% of GST is charged on the selling price of a product on Paytm. The Seller must give GSTIN certificate of registration.GSTIN needs for trading goods across India as per the provision of sale tax.
Paytm Payout- Process
The payment process of Paytm to the sellers in done on a weekly base excluding Saturday and Sunday. Once the order state shifts from delivered on the seller’s end. The seller manages to obtain a mail from Paytm. That gives information about their order and earnings.
Paytm Pay-out process reflects every charge and market price of the products. The number of earnings is based on the formula.
Earnings = SP – (MC+ PGC + L (SC/PC) + P (in case any) + GST)
- SP= stands for selling price.
- MC=Marketplace commission
- PGC=Payment Gateway charges
- SC=shipping charges
- PC=packaging charges
- GST= Goods & Service Tax
Paytm seller V/S other websites sellers
Paytm has set up a wholesale existence for its e-commerce business. At the time another website like Flipkart and Amazon are viewing 73% and 40% revenue growth. In their own wholesale businesses. Paytm already into the action to spread out as much much as it can.
Paytm Wholesale Commerce was consolidated in September. The share capital was of Rs 20 crore. The shares have been supported by Paytm E-Commerce Pvt. Ltd.Its the entity which operates Paytm Mall. The regulatory filing states that the purpose of the company
- carry on the business of buying
- importing & exporting - of goods and luxury brands on a wholesale basis/ B2B.
Amazon and Flipkart in India apply their wholesale units as distribution channels. That further source product from brands directly. Then supply these products to third-party merchants to sell on their online marketplaces. The centre on the wholesale B2B business became extra important following regulatory changes. In early 2016 it limits the sales from a particular vendor to 25% of a digital marketplace's gross sales.
Paytm Wholesale Commerce also involves activities as payment agent and distributor for international brand or producers. It sellers provide all at one place, whereas other e-commerce sites either have platforms usually have buying and selling of the product only. Paytm caters the facility of transferring money, recharges and buying of mutual funds etc. Hence it is both, an e-commerce platform as well as a wallet.
Paytm is India's greatest payment gateway that delivers complete payment services for customer and traders. It offers mobile payment solutions and allows consumers to make payments from Cards, Digital credit and bank accounts with others.
They have established a QR based mobile payments in India.
This article is framed by Shrishti Jain. A content writer from LegalRaasta. It is one of the excellent CA and CS service portal online. Proving hassle-free services like LLP Registration, Partnership Registration, Company Registration and OPC Registration and lot more.