Paytm Mall to facilitate sales worth $500 million in festival season

Paytm Mall on Wednesday said it is looking to facilitate sales worth $500 million in the festive season through its platform. Paytm Mall, like its rivals, is also offering a sale on its platform between 20-23 September.

''We are well on our way to achieve half a billion dollar of sales this festive season. We are giving a number of offers and discounts to consumers during the festive season,'' PTI quoted Paytm Mall chief operating officer Amit Sinha as saying.

With the backing of Alibaba, Paytm had, earlier this year, spun off Paytm Mall as a separate entity.

Sinha added that Paytm Mall has registered a  ''massive surge'' in transactions on its platform on the first day of its sale with customers from 750 cities and towns placing orders.

The company has earmarked more than Rs700 crore cashback spend and offers in the festive season. The last few years had seen e-commerce players woo customers with offers and discounts across segments like apparel, electronics and home decor during the festive season, which has helped e-commerce in India to experience significant growth.

The sale on Flipkart and Amazon will continue till 24 September, while the sale on Snapdeal will end a day later, while rival Shopclues is set to hold its sale till 28 September.

Paytm is offering the Apple Watch Series 2 priced at Rs32, 000 with a flat cashback of Rs8,175. Also, ICICI credit and debit card holders can avail cashback up to Rs1,500.

In addition to the Apple Watch, iPhones are on offer at a cashback of up to Rs15,000, which includes iPhone7 Plus, iPhone 7, iPhone 6S, iPhone 6S Plus, iPhone 6, iPhone 6 Plus, iPhone 5S, and iPhone SE.

Cashback offers of up to Rs6,000 are also available on Apple iPads. The MacBook Air is also on offer with cashback of Rs12,000.