Paytm Mall only a platform, no plans to become retailer: CEO

Paytm's new e-commerce platform, Paytm Mall, is looking to attract small and large retailers but will not become a retailer itself, said founder and Chief Executive Officer Vijay Shekhar Sharma.

Speaking to CNBC-TV18, Sharma said that the e-commerce arm recently raised USD 200 million from Alibaba and SAIF Partners and the money would go towards building the offline-to-online channel.

"We will be leveraging it as our primary bet in the market," said Sharma.

He said that Alibaba would be limited to an investment capacity and not be involved in the management.

Paytm Mall is an app for smartphones currently available on Android. It is modelled on TMall, the top e-commerce platform in China.

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Paytm, which is run by One97 Communications, had announced on Thursday that it had started offering its mobile payment services in Canada.

It is Paytm's first foray into the international market, but Sharma said there are currently no immediate plans for expansion.

"Our payment platform has become mature but it will take time to expand as we want to understand each market properly before growing further," said Sharma.

Paytm had set up a Toronto office in 2014 as Paytm Labs - a research and development division setup by One97 Communications.

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