As the social commerce segment gains momentum in the Indian ecommerce market, digital payments major Paytm has entered the space with a new feature called MyStore, an online marketplace that connects sellers and consumers with social media platforms such as WhatsApp and Facebook.
The MyStore feature has been updated in the Paytm Business App and the company has also started promoting it on the consumer facing App. The firm is also, through its YouTube channel, pushing explainer videos for a run-through of the various features and functionalities of MyStore.
The development was first reported by Entrackr, which said that the Alibaba-backed Paytm has been testing MyStore for some time now before officially launching the feature.
The new feature lets users browse products across categories like clothing, jewellery, cookware and other household products and chat with resellers on WhatsApp and Facebook. It will also allow resellers to order on behalf of the buyers. It is available in vernacular languages like Tamil, Oriya, Punjabi, Gujarati, Punjabi, Bangla etc.
With this launch, Paytm looks to get into direct competition with players such as Naspers-backed Meesho, Matrix-backed DealShare and Kalaari Capital-backed Shop 101 who have marked their presence in the social commerce space recently with huge investments.
Paytm did not respond to queries from TechCircle.