Paytm Mall, the eCommerce unit of India’s digital payments company Paytm, rolled out a new promotion dubbed the “Freedom Cashback Sale.”
BGR reported the promotion will run until August 15, giving consumers cash-back offers on product purchases from a slew of different categories. It’s also being touted as the first online-offline sale in India, providing consumers with the same deals whether they purchase it online or in a physical store.
Paytm Mall has inked partnerships with more than 1,000 brands and private labels. The company will spend 1 trillion rupees on joint promotional activities and cash-back offers. Some of the categories in which customers will get cash back include smartphones, laptops and other electronics, clothing, home and kitchen appliances.
The report noted that during the promotion the company’s app will feature ethnic clothing and specialty fashion from different states around the country. With that feature, Paytm Mall is aiming to promote the country’s industry of merchants and boost sales for craftsmen and retailers.
The promotion comes at a time when Paytm’s owner is doing brisk business in the payments industry in India. In July, One97 Communications breached $4 billion in monthly gross transaction value. “Paytm has been witnessing [a] tremendous increase in adoption of digital payments in tier 2 and tier 3 cities, which constitutes 50 percent of its total user base. This has helped the company to achieve an annual run rate of five billion transactions and $50 billion in [gross transaction value],” One97 said in a statement at the time.
The report noted that One97 didn’t disclose figures for April and May of this year. Though gross transaction value isn’t seen as a true indicator of the health of the company, Livemint said it does show the high adoption rates of the Paytm platform. Gross transaction value includes recharges, bill payments, peer-to-peer transactions via the Unified Payments Interface, peer-to-peer transactions in general and all purchases made on the Paytm Mall and Paytm payment gateway. It does not include National Electronic Funds Transfers, debit or credit card transactions.