Yet another big deal in the e-marketplace: the mobile commerce brand Paytm, based out of Noida, India has joined hands with AliEpress, which is an international online marketplace of Chinese e-commerce giant Alibaba. Ant Financial (Alibaba’s financial arm) picked up a 25 per cent stake in One97 Communications (that owns Paytm) in February for about $200 million and now plans to tap international markets including China. Chinese sellers will have access to the Indian market through Paytm’s network and Indian sellers will plug into AliExpress’ international network.
Eric Jing, chief operating officer, Ant Financial Services Group, an affiliate of Chinese e-commerce giant Alibaba Group Holdings in a statement to business standard says “Paytm and AliExpress are working together for fruitful collaborations to tap international markets, and that will happen soon”
All in all it will give more variety and options to the Indian consumers and will enable expansion of the Indian m-commerce giant abroad.
Source: Business Standard