- What is Paytm Wallet?
- Who can become a seller on Paytm Marketplace?
- Documents Needed During the Paytm Seller Registration Process:
- How to Create Paytm Seller Account?
- Top 10 Reasons to Start Selling on Paytm Marketplace:
- How Paytm Seller Support is the Best Advantage For All Seller on Paytm
- Difference Between Paytm Mall Seller And Amazon Seller Central
What is Paytm Wallet?
Paytm was launched in August 2010 as a mobile wallet and has now entered into the e-commerce industry. Paytm is mostly famous for its deals and offers to the customers. It started with providing basic services such as mobile recharge, payment of bills. In today’s scenario it has become a most known platform for many purposes including shopping and hence paytm sellers are also finding good with doing business on paytm marketplace.
Users can store money in the virtual wallet which can be used in online transactions instead of net banking and debit/credit card. To transfer the money to paytm wallet, net banking and debit/credit cards are used. Paytm is a very popular mobile commerce app in india. Users just need to create an account on paytm to enjoy all the benefits and cashbacks.
The limit of Rs 10,000 has been set by the Reserve Bank of India. Users cannot spend more than this amount in the wallet. However, this limit can be upgraded to Rs 1 lakh once your account is verified by the KYC process.
Paytm also provides financial services such as – Monitoring credit score, insurance services, investing in mutual funds etc!
As paytm has covered all the fields, it has been successful in acquiring apps such as – Jugnoo, Nearbuy, Balance, TicketNew, NightStay, Jplustxt and Cube26.
Paytm was awarded the Most Innovative Startup of the year in 2012 in an event organized by Franchise India.
So all the business holders, who want to take a step ahead in expanding their business, paytm is the right choice. There are huge benefits for sellers which will be explained in the article.
In this article, you will learn the registration process to start selling on paytm, benefits of selling on paytm, documents required to start selling on paytm. The paytm seller central dashboard is easy to understand and adding products in it.
Who can become a seller on Paytm Marketplace?
- Any individual person with his own capacity can get registered as a seller on Paytm and sell his products or items through its platform.
- Any Private Limited Company, Public Limited Company, One Person Company can be formed and can do registration on Paytm.
- Partnership firms can also register themselves.
- (LLP) Limited Liability Partnership can register itself as a seller.
Documents Needed During the Paytm Seller Registration Process:
- Name of the Individual
- Name of the Company
- PAN Card
- A Cancelled cheque (in which the seller wants payment)
- Aadhaar card
- An email address
- Phone number
- GST Number.
- Bank Account Details
- Address proof eg- Bank Statement, Electricity Bill, Passport copy etc. needed for submission
How to Create Paytm Seller Account?
So once ready with your GST number, paytm seller registration is an easy process. If you are not ready with gst yet then Know about the GST registration process.
Due to the GST process and less number of conditions in the tax, seller registration has become easier, as small startups can even enroll for seller programs due to lower threshold.
Paytm Seller Registration process:
Step1: Visit the Paytm Seller Website. Fill up the following information – Email id, Name, Mobile Number and all keep the documents handy which are mentioned above. For the verification Purpose, the contact details have to be verified. So for that an email will be sent to the registered email id of the seller and an SMS will also be sent to the registered phone number.
Step2: Enter the Brand name of your items and select the category in which it Belongs.
Step3: .Enter all the following details – Business Type, Display Name, Pincode, Business Place Address and submit other documents.
Step4: KYC Verification: As the verification part is completed, the KYC documents must be submitted i.e the Address proof of the entity, Identity Proof PAN CARD Copy, Aadhar Card Copy. Enter the PAN Details and Bank Details.
Step5: Enter the warehouse and GSTIN Details.
Step6: Add the Listings: Your Products must be catalogued in advance at the time of Listing in the inventory. For the best customer experience, you can hire a professional photographer to showcase your items in a good manner.
Step7: The catalogued products can be listed on the Paytm Marketplace and also it can be displayed on your own website for the sale. Update the stock units and price of items.
When the products or items are sold, you will get an email notification that you received an order and thus process it. A marketplace like Paytm is helping businesses of all sizes (small to large) to grow fast and not remain limited to geographical boundaries.
Just Remember the slogan of amazon and start working from today itself. All you need to make one step further and then things will become much more clear to grow on paytm.
Top 10 Reasons to Start Selling on Paytm Marketplace:
1. Very Less competition
As it is the first and the only mobile marketplace, the number of seller’s are not much than the other e-commerce marketplace when we consider. So the competition is less and sellers can take advantage of it to get more and more customer’s attention and thus generate a lot of sales.
For example; when we talk about Amazon or Flipkart Marketplace the seller has to compete with thousands of sellers to get a sale and do lots of promotion and advertising activities.
But in the Paytm Marketplace, there are not more than 2k sellers as of now, Therefore It clearly means your items or products in your inventory can get more visibility when customers search for a needed product.
2. As Paytm Mall Seller There is Huge advantage of 5 million+ Customer Base
Just Because of 5-10 million Paytm users on Android alone, traffic shouldn’t be the concern. Due to the huge customer base of paytm, the sellers have more chances to showcase their products and can get sales.
The seller just has to be descriptive about the product in a very unique way, more important in a very informative way so that the customer can see all the features and advantages of the product in the detail page.
If we still look at the 5 million subscribers for its various services, with whom they have established credibility and trust can play a big role in visibility of the items of the seller.
So in the customer’s mind, Paytm marketplace would have the same trust and credibility which will definitely result in generating more traffic and sales.
With a strong Customer base already established, traffic shouldn’t be the concern for getting product visibility.
3. The Best First player advantage of paytm seller panel
Paytm is the first mobile marketplace in India as of now. So, being first in the game always has an advantage with the addition of more chances for correcting errors, unless and until other players are not in the marketplace.
As it does not have more sellers when compared to Amazon and Flipkart, the seller can take advantage to showcase the item to the larger audience and get more sales. Paytm is already integrated with the technical know, being in the mobile domain with its mobile recharge option, bill payment options and with other features.
The process is also easy and fast to become seller on paytm and setup an online store with it.
4. Paytm Seller Voice will be heard
A very common problem that the sellers face in any e-commerce marketplaces is that their problems or concerns are not being heard when they are stuck with doing any task like listing the items, promoting the items, or how to advertise the item. Paytm sellers will not face this problem!
Their Problems are not given consideration and thus it leads to dissatisfaction in the mind of the seller regarding the marketplace. Many sellers believe that the eBay marketplace is more customer-centric and it only worries about keeping the customers happy, irrespective of losses incurred by their registered sellers.
Although many sellers are trying to change the way with bestseller training programs services, Account management services and also better support facilities.
But the fact still remains the same that it may not be possible to hear everyone equally when required. But here in case of Paytm, you will definitely have a benefit.
As the number of sellers is much lesser as of now when compared to another e-commerce marketplace, you have much better chances of being heard and issues being sorted in a very short time.
As it is in the initial growing stage, Paytm would be open to listening to all the sellers on its marketplace more because they also want to concentrate on improving the user-friendliness and more important seller friendliness.
5. Live chat messenger in paytm seller panel
The paytm seller panel offers an exciting feature Live Chat Messenger with the sellers!
Most of the marketplaces have the option to chat with the customer service executives. What paytm did was out of the box. Paytm connects the customer directly to the sellers. When a customer chats, he would be communicating directly with the seller. There is also an option to download paytm seller app for all the paytm sellers.
Customers can rejoice the shopping experience virtually also. When a customer visits any shop and enquires about different colors, sizes and patterns, he can ask the seller the same through connecting to this live chat messenger! Lovely isn’t it?
Abandoned carts have been an important concern for e-commerce sellers. Through this live interaction, abandoned carts can be avoided. Customers can bargain and ask for discounts to the seller directly by chatting.
Customers get happy when a small amount of discounts is given. For this reason, street shopping is very common in India. Paytm has made an effort so that customers can experience this joy by simply sitting at their homes!
Human interplay helps establish trust. With this live chat feature, without any human interaction, paytm has gained trust of lakhs of customers. So such services provided by paytm makes it more wannabe!
6. Marketing Through Different Channels
Paytm is one of the most popular among the audience. Various marketing tactics of paytm are:
Coupons & Cashback Offers on everything: Whether you want to book movie tickets, book a ticket for bus, purchase any product, paytm offers 30-40% cashback on its marketplace. When such offers are put on by the sellers, the sellers of course get the full amount in their accounts! So your paytm seller panel won’t get affected.
Customer Base: As paytm has been in this domain for a while, people are aware about it and so many transactions for mobile recharge, shopping on paytm mall app, payment of utility bills are made daily. With such meticulous efforts these customers can be converted to sure shot customers. So, as paytm has already built an audience, it becomes easier for the sellers to get sales.
Continuous Push Notifications: Paytm keeps on sending constant push notifications regarding new offers which increases traffic on the application. So customers would click on the notification to check out the offer, and make a transaction. Sellers have confirmed that sales increase when push notifications are sent.
7. 24×7 Availability
Paytm is available for the buyers as well as the sellers 24*7. Sellers can easily process their orders any time. So whenever sellers get stuck anywhere, they can contact the paytm seller support team. Order processing will also not get stuck. You can run your business the entire day, 24*7!
8. Paytm Owns Payment Gateway Feature
Paytm itself is being used as a payment gateway in most of the ec-ommerce websites of India. The team of paytm always tries to make the mobile commerce user friendly and a normalcy with the integration of the wallet. The users can load money in the wallet and use this money on various other platforms, as paytm is available on most of the ecommerce platforms.
Paytm has a target to make “1 million orders a day”. When this happens, it will be the first ever ecommerce company to process so many orders in a single day.
So with this motive of paytm, the sellers must get inspired to sell on paytm already!
9. Offers and Promotions:
Paytm offers huge cashback and discounts. Due to such huge offers, customers tend to use paytm a lot. The main attraction of paytm are the offers. People get happy when they are offered a discount. So, even though users get cashbacks and discounts on their order, the seller will be paid in full! This is an added advantage for the sellers! These offers and promotions can increase the rate of sales.
You can advertise your products to millions of paytm users and the best part is that you can also start running advertising campaign with very limited budget. You can get good results of sales after perfectly optimizing the listings with relevant keywords.
How Paytm Seller Support is the Best Advantage For All Seller on Paytm
Paytm Seller Support team plays an important role. Whenever sellers face any technical issues, have any queries or get stuck, the paytm seller support team resolves those.
1. 24X7 Support:
The paytm seller support is available 24*7 to help the sellers in case of any queries and questions. So the seller can contact the support at any time of the day without hesitations. Due to this, the productivity of work increases. Seller support executives are available 24*7!
2. Helps in Document Processing:
When applying for paytm seller registration, paytm support executives are available 24*7. Even after getting registered as a paytm seller, there are few documents, invoices, etc that need to be processed. Paytm executives help in this process too!
3. Helps in Managing Order Processing Initially
As a new seller on paytm,the sellers are not used to the seller portal. There are various statuses, steps, documents, interactions needed to process a single order. So at the initial level, the sellers are not used to these features. The support executive team helps in managing the order very efficiently.
4. Resolve Doubts Regarding Product Listings
Sellers might need help in listing products in the initial phase. To add a new item, to remove any item, to edit stock details etc, all these are the frequently asked queries. So sellers having all the doubts related to product listing can contact the paytm seller support team.
5. Helps in Brand Protection
Paytm sticks to strict steps for brand verification and authorisation. These strict measures are taken to ensure that there are no fake/defective/low quality items. To register as a seller on paytm, Brand Authorization/Ownership documents are mandatory. So sellers need not worry about the brand protection. Your brand name is safe in the hands of Paytm.
Difference Between Paytm Mall Seller And Amazon Seller Central
|No||Paytm Mall Seller Central||Amazon Seller Central|
|1. Seller Support Team||Available via Phone and Email.||Available via Phone, Email and Chat.|
|2. Customer Returns Issues||5-10% issues. It Varies as per the seller’s product quality.||10-20% issues. It Varies as per the seller’s product and packaging quality.|
|3. Automatic Payment Reconcillation||100%||100%|
|4. Account suspension||Incase paytm seller policy is violated.||Incase policy is violated and Look For Account Health Parameters.|
|5. Sales Estimation||80% Sales can be achieved with promotion and advertising.||60% Sales can be achieved with promotion and advertising. With Different categories of product, Sales can be Soared.|
|6. Policy Violation Parameter||Late Dispatch, Order Cancellation By Seller||Late Dispatch Rate, Order Defective, Order Cancellation, By Seller. Single Sytem Access of Seller Account.|
|7. Adding Listings||Lenthy process. Takes much Time.||Very Simple and Fast To Add product Details.|
|8. Payout||Within 7-15 business days based on your seller tier.||Within 7 business days sellers are paid.|
India’s biggest and widely used payment gateway is Paytm! Most of the traders, customers use Paytm payment services.It is one of a kind. Due to such virtues, paytm is the first choice for sellers who wish to sell on mobile commerce. The use of paytm mall app has increased due to the huge offers and cashback.
Start selling on paytm TODAY!
Want to become a seller on paytm PAYTM?
Contact MohitEcommerce today!
You can become seller on paytm by registering on the paytm seller website with all the documents to be uploaded at the time of registration.
By checking into the seller information regarding the products and reviews.
You can download the paytm application and with that you can contact the seller.
You have to request to paytm team to delete the paytm seller account.
Yes, Paytm has many users on it’s platform and you can earn good money by selling products on paytm.