Jio-Facebook deal will benefit entire e-commerce industry: Paytm Founder Vijay Shekhar Singh
By MYBRANDBOOK
The Jio-Facebook deal may mark a change in consumer behaviour, and the whole industry will benefit from this, Paytm founder Vijay Shekhar Sharma said.
“It takes a huge amount of capital to change customer behaviour and it took us tens of thousands of crores to make users pick up the phone and scan a QR code. We spent more money than government programs cumulatively to change the behaviour,” he said.
However, one thing that Paytm hasn’t been able to do is business around online-to-offline, he said. On the other hand, JioMart is incepted on the premise that an item will be sourced from a local store and will be later shipped to a customer’s home.
“Jio-Facebook partnership may be calling the country where consumers start to place orders to neighbourhood stores. Once this takes off, everyone in the industry will benefit and we will also be a beneficiary,” added Sharma. After the announcement of Facebook-Jio deal, Paytm had also later announced its plan to bring kiranas into play as the company looks to ramp up hyperlocal deliveries in about 100 Indian cities.
In April 2020, Facebook and Reliance Jio announced a multi-billion dollar deal where Facebook agreed to pick up nearly 10% stake in Jio for Rs 43,574 crore ($5.7 billion). The investment makes US-based social media platform Facebook the largest minority shareholder in Jio Platforms. Facebook is also expected to launch its payments service soon in the near future via Whatsapp which is likely to help JioMart’s business consolidate even further on one platform. JioMart is already using Whatsapp to reach the target audience and the platform is also used to confirm orders and send order details.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
Autodesk continually pushing the boundaries in the Design and
Autodesk’s vision is of a better world designed and made for all. It inte
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
ACER INDIA PVT. LTD.
SAMSUNG INDIA ELECTRONICS LTD.
GLOBUS INFOCOM LTD.
QUICK HEAL TECHNOLOGIES PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : AMIT CHADHA
Amit Chadha serves as the CEO and Managing Director of L&T Technology ...
ICONS OF INDIA : SOM SATSANGI
With more than three decades in the IT Sector, Som is responsible for ...
Icons Of India : ALOK OHRIE
Alok Ohrie leads Dell Technologies’ India business, overseeing Sales...
PARTNER SPEAKERS
PSU
C-DAC - Centre for Development of Advanced Computing
C-DAC is uniquely positioned in the field of advanced computing...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
PFC - Power Finance Corporation Ltd
PFC is a leading financial institution in India specializing in power ...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - ARVIND KRISHNA, CEO – IBM
Arvind Krishna, an Indian-American business executive, serves as the C...
Indian Tech Talent Excelling The Tech World - Dheeraj Pandey, CEO, DevRev
Dheeraj Pandey, Co-founder and CEO at DevRev , has a remarkable journe...
Indian Tech Talent Excelling The Tech World - Lal Karsanbhai, President & CEO, Emerson
Lal Karsanbhai, President and CEO of Emerson, assumed the leadership i...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
