Paytm E-commerce, one of the leading players in the digital commerce space, has rebranded itself as Pai Platforms. The company has also acquired Bitsila, a seller platform on ONDC, to strengthen its omnichannel and hyperlocal commerce capabilities.
Pai Platforms: A New Identity for Paytm E-commerce
Paytm E-commerce, which was backed by Paytm Founder and CEO Vijay Shekhar Sharma, Softbank, eBay and Elevation Capital, has changed its name to Pai Platforms. The company had applied for a name change around three months ago and got the approval from the Registrar of Companies on February 8.
The rebranding is not just a cosmetic change but reflects the company’s evolving strategy and focus in the digital commerce sector. Pai Platforms aims to deepen its roots in the burgeoning online retail market, which is expected to grow to $200 billion by 2026.
Why Pai Platforms?
The new name of the company is derived from the Hindi word ‘pai’, which means ‘to get’. The company believes that this name resonates with its vision of empowering customers to get what they want, when they want and where they want. The name also signifies the company’s commitment to innovation and excellence in the digital commerce space.
What Pai Platforms Offers?
Pai Platforms offers a wide range of products and services to its customers, including online shopping, payments, logistics, cloud services, advertising and more. The company operates various platforms, such as Paytm Mall, Paytm Money, Paytm Insider, Paytm Postpaid and more. The company also has a strong presence in the offline retail segment, with over 17 million merchant partners across India.
Bitsila Acquisition: A Boost for Omnichannel and Hyperlocal Commerce
Pai Platforms has also acquired Innobits Solutions Private Limited (Bitsila), which was launched in 2020 and operates as a seller platform on the Open Network for Digital Commerce (ONDC). ONDC is an initiative by the government of India to create an open and interoperable e-commerce network that empowers buyers and sellers.
Bitsila is known for its full-stack omnichannel and hyperlocal commerce capabilities, which allow it to manage over 600 million product categories across over 10,000 stores in more than 30 cities. The platform caters to various sectors, including grocery, food and beverages, fashion, beauty, personal care and home decor. It also supports marquee brands like McDonald’s and BigBasket on ONDC.
How Bitsila Enhances Pai Platforms’ Commerce Strategy?
The acquisition of Bitsila will enhance Pai Platforms’ commerce strategies, tapping into the vast potential of the ONDC network. The company will leverage Bitsila’s technology and expertise to offer seamless and convenient shopping experiences to its customers across multiple channels and locations. The company will also benefit from Bitsila’s strong network of sellers and brands, which will help it expand its product portfolio and reach.
What are the Benefits of ONDC for Customers and Sellers?
ONDC is a platform that aims to democratize e-commerce by creating a level playing field for buyers and sellers. It enables customers to access products and services from multiple sellers without being locked into any specific platform or marketplace. It also allows sellers to reach out to customers across different platforms without paying any commissions or fees. ONDC also ensures data privacy and security for both customers and sellers.
Conclusion
The rebranding of Paytm E-commerce to Pai Platforms marks a pivotal moment in India’s digital commerce landscape. With strategic acquisitions and robust backing from its shareholders, the company is set to explore new avenues and opportunities in the online retail space.
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