Paytm is the largest E-Commerce application for making the payment and for making monetary transactions just by using other’s mobile number. It is India’s biggest digital wallet company. Paytm facilitates buying and selling option through the application. Paytm has helped retail marketing to explore their ways of selling online. It has created a platform for selling and buying at larger end making it convenient for consumers and sellers to purchase and sell their products respectively from the constraints of their home/office.
Paytm has given a larger scope for everyone, be it individuals, companies or organisations. It has 24/7 access with fantastic offers with it. Let us discuss few benefits of selling through Paytm:
Therefore, the sellers are very satisfied using Paytm as a platform for business expansion. They don’t have to stress about marketing their products.
Selling on Paytm requires you to meet certain conditions as given below:
The following are the steps/process involved in the registration of Paytm Seller:
Step 1: Go to Paytm Seller Registration page
Step 2: Enter your name, phone number and email address and set a password
Step 3: Verify your account through your email address
Step 4: Verify your account through your mobile number
Step 5: Enter the details about your business and address
Step 6: Provide required documents for KYC process
Step 7: Approve terms and conditions and continue by updating the catalogues of your products
Step 8: Start selling on Paytm
The following documents are required to be submitted for registering yourself as a Paytm seller:
After completing all the verifications and submitting the documents, you will have to wait for the approval from Paytm. Till then, your request is kept pending.
The payment process of Paytm to the sellers in done on weekly basis except for Saturday and Sunday. Once the order status changes to ‘delivered’ on the seller’s end, the seller tends to receive a mail from Paytm, which provides details of their order and earnings.
Paytm Pay-out process considers all the charges and market price of the products. The computation of earnings is based on the formula given below:
Earnings = Selling Price – (Marketplace commission + Payment Gateway charges + Logistics (shipping charges/packaging charges) + Penalty (in case any) + GST)
For example, an order was placed for Rs 1500/- (selling price). Let us see what the earning of the seller after deducting all the cost will be.
|(-) Marketplace Commission (10%)||150/-|
|(-) Pay-out Gateway Charges (2.7%)||40.5/-|
|(-) Logistic Charges||75/-|
|(-) GST (18%)||270/-|
|Total Pay-out earning||964.5/-|
Paytm being an E-commerce application and digital wallet company charges GST (Goods & Service Tax) on all the services. Paytm charges GST @ 18% on the selling price of a product. The seller must provide GSTIN registration certificate. As per the provisions of sales tax, GSTIN is required for selling goods across India.
Paytm has everything at one place, whereas other e-commerce sites either have platforms where they only purchase or only sell. Other than buying and selling, Paytm has a facility to transferring money, recharging your subscriptions, etc. Thus, Paytm works as an e-commerce platform as well as a wallet.
A. Paytm is free for a list of products. Paytm mall doesn’t charge anything for listing catalogues online. You only pay a small commission for what you sell.
A. Selling on Paytm will require GST/GSTIN number. However, you will eligible to sell only tax-exempt products in case you don’t have GST/GSTIN number. PAN card number is mandatory anyway.
A. Generally, documents take 24 hours to get verified, and it must be a working day. Otherwise, you can raise a request via seller support tab. In case of rejection of documents, you will have to resubmit your documents via seller panel.
Paytm is serving and encouraging individuals to earn through the e-commerce platform. The process of registering as a seller on Paytm is quite easy and affordable.
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