Paytm announces Diwali sale, to give Rs 100 crore in cashback

After e-commerce majors like Amazon and Flipkart, concluded their first leg of sales last week, rival Paytm on Wednesday announced a three-day festive sale. Paytm’s Maha Bazaar Sale, which begins today will feature promotions across categories including fashion led by ethnic wear, gifts and sweets, mobiles, consumer durables and home furnishings, it said in a statement. 

 

Paytm is focusing heavily on cashback as a promotional tool and said that over 10,000 of the 1.3 lakh merchants would contribute around Rs 100 crore in cashback this festive season. The company has also invested significantly in offering warehousing facilities at up to 90 percent discount at its 19 fulfillment centers, free consolidation centers at 35 locations and additional manpower to ensure faster and smoother operations during the peak season, it said without disclosing the investment size. 

 

The e-tailer's sale announcement comes after a report in The Economic Times suggested that it might hive off its e-commerce arm next month, separate from its wallet business.Get live News Updates visit us at Ripples Advisory or One Missed Call on @98-27-80-80-90