Paytm to build 'New Retail' vertical
Mumbai, July 28 : Digital payments company Paytm on Saturday said that it will build a "New Retail" model to equip shopkeepers with technology, logistics and marketing capabilities.
According to One97 Communications, that owns the brand Paytm, under the new model, "consumers will soon be able to discover nearby pharmacies, groceries and other shops to place an order and get instant deliveries".
"Paytm is also building P2P logistics with a rider network spread across the country which will be utilised for intra-city deliveries," the company said in a statement.
"The company has already partnered with a large network of local shops, restaurants, pharmacies and groceries for accepting payments and will soon extend 'New Retail' services to them."
Paytm Founder and CEO Vijay Shekhar Sharma said that local ordering is expected to become one third of Paytm orders and GMV (Gross Merchandise Value) by 2020.
As per the statement, Renu Satti will lead the charge as COO of this new initative.
"In the past, she has built businesses ground up that include marketplace, movie ticketing and most recently Paytm Payments Bank. Renu Satti has already resigned from Paytm Paymnets Bank CEO position and the Bank will soon be recruiting a new CEO," the statement said.
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We need to create system in which people's skills get their due: Rahul Gandhi
New Delhi (PTI): Leader of Opposition in the Lok Sabha Rahul Gandhi Friday called for creating a system in which people's skills get their due and everyone's contribution is respected, as he shared a Diwali video in which he interacts with paint job workers and potters.
Posting the over nine-minute video which features him also having a conversation with his nephew Raihan Rajiv Vadra on YouTube, the former Congress chief said, "A memorable Diwali with special people - I celebrated this Diwali working with some painter brothers and making earthen diyas with a potter family."
"I saw their work closely, tried to learn their skills and understood their difficulties and problems. They don't go home. We celebrate festivals happily and to earn some money, they forget their village, city, family," Gandhi said.
"They make happiness from clay. While lighting up the festivals of others, are they able to live in light themselves? Those who build houses can hardly run their own houses!" he said.
Gandhi said Diwali means light that can remove the darkness of poverty and helplessness.
"We have to create such a system -- in which people's skills get their due and contribution is respected -- makes everyone's Diwali a happy one. I hope this Diwali brings prosperity, progress and love in the lives of all of you," he said.
In the video, Gandhi is seen working with labourers at the 10 Janpath residence and learning to paint walls along with his nephew. In the second part of the video, Gandhi goes to the house of a woman who makes earthen lamps with her five daughters.
Gandhi tries his hand at pottery and makes 'diyas', which he says he would give to his mother and sister.
Since his Kanyakumari to Kashmir Bharat Jodo Yatra and his Manipur to Mumbai Bharat Jodo Nyay Yatra, Gandhi has been interacting with a cross-section of people from mechanics and cobblers to labourers and bus drivers.
He often posts videos of his numerous interactions and highlights the plight of various sections of society.
