As per the MoU, Paytm will set up payment modules for purchase of online ticketing processes.
Paytm, a mobile commerce platform has tied up with National Centre for Trade Information (NCTI) to offer its members the wide reach of its online marketplace.
“This is yet another initiative on the part of Paytm to help MSMEs to scale faster thanks to its wide reach and its expertise in digital commerce,” said the company’s official release.
The two organisations signed a Memorandum of Understanding at a recently-held seminar in Pragati Maidan. Entitled “Trade Information Resources for Export Promotion”, the event was jointly organised by NCTI and India Trade Promotion Organisation (ITPO). As per the MoU, Paytm will set up payment modules for purchase of online ticketing processes, payment of membership fees etc and provide payment gateways for NCTI. Additionally, it will also offer a virtual marketplace platform for NCTI members and will extend its services and expertise to all of them.
Renu Satti, Vice President, Paytm, said, “Paytm has a strong mandate to empower MSMEs in India. To this end, we have now partnered with NCTI which is playing a pivotal role in the India growth story by providing value-added trade information for the benefit of the trading community, especially Indian MSMEs in the form of Electronic Trading Opportunities. This gives us a huge opportunity to assist its members with the benefits of e-commerce and to provide them with a powerful platform to sell online and scale faster.”
NCTI is incorporated as a Company under the aegis of Department of Commerce, Ministry of Commerce and Industry, Government of India. It is promoted by India Trade Promotion Organisation (ITPO) and National Informatics Centre (NIC).
The company’ release further stated that Paytm is India’s largest mobile commerce platform. With its mobile first strategy, Paytm does more than 30 million orders of various digital and physical goods every month. Launched in 2014, Paytm wallet is India's dominating mobile payment service platform. The company’s investors include SAIF Partners, Ant Financials (AliPay) and Sapphire Ventures.
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