Paytm becomes India’s first mobile payment app to cross 100 million downloads on Google Play Store
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Alibaba backed mobile financial services platform Paytm on Wednesday announced that its app has crossed the 100 million milestone on Google Play Store in the second week of December 2017. This makes Paytm the country’s first payment app to cross the 100 million downloads mark.
Deepak Abbot, Senior Vice President, Paytm on the achievement said, “We are overwhelmed with the 100 million downloads mark, reaching this milestone is a testimony to the efforts of the incredible team at Paytm. This achievement will offer us a strong boost as we work towards our goal of making India a digital-first economy.”
Earlier this month, Paytm became the majority shareholder of the entity formed through the merger of Nearbuy.com and Little Internet. The new development will provide more trade opportunities for the merchants.
Paytm's strategic holding in Nearbuy-Little will provide its merchant partners an opportunity to offer deals to acquire new customers and grow their business. Additionally, Paytm will serve its consumer base by showcasing a large number of exciting deals on its platforms and will further strengthen its presence in the offline commerce space.
Commenting on the occasion, Vijay Shekhar Sharma, Founder and CEO, said, "This combination of Nearbuy and Little marks a great opportunity for us to reinforce our commitment to support small and large retailers in the new age of mobile commerce and payments. I am sure consumers will love the greater selection and reach of everyday deals and discount offers".
Nearbuy.com and Little Internet have merged to create India's largest discovery and deals platform for local merchants and it will help offline merchants by enabling them to acquire new customers through deals.
Nearbuy and Little work with over 40,000 small and large merchants across food, beauty, travel and other categories. The combined entity will continue to enable customers to discover deals and save money whenever they step out, and also help merchants effectively utilize their inventory and acquire new customers.
The existing shareholders of Nearbuy including Sequoia India, will also become shareholders of the merged entity.
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