Online payments and ecommerce marketplace Paytm has acquired Delhi-based Shopsity in a bid to strengthen its offline retail network. Shopsity follows an online-tooffline model that offers solutions to small retail stores.
Paytm declined to comment on the deal value. Through the acquisition, Paytm is looking to create seller-focussed services for its offline merchants. The company is in the process of acquiring merchants to accept payments and plans to go deeper and offer a more engaged platform for interacting with customers.
Shopsity co-founders Danish Ahmed and Gaurav Arya have joined Paytm’s management and are actively working to strengthen seller services for the 8,00,000-strong offline sellers on the Paytm ecosystem. The acquisition will aid Paytm’s target of reaching 4 million offline merchants by March 2017, the company claims.
Ahmed has been brought on board in capacity of vice-president of Paytm’s O2O business. “We are very excited to join and build a platform that enables small retailers to ride the digital wave.
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