Paytm is fast working on its own, to create an app-store that is not powered by Google or Apple and is ‘fair’ to Indian app developers. Taking a step towards that rather ambitious goal, the Alibaba-backed digital payments giant today announced the launch of its mini-app store. The store, though not a full-fledged app store, will allow app developers and brands to build apps that can be opened without installing them, running over Paytm’s own technology back-end.
Paytm says that it has created the digital infrastructure to enable small developers and businesses to set up low-cost, quick-to-build mini-apps which can be built using HTML and javascript technologies. The company will provide Paytm wallet, Paytm Payments Bank account and UPI at zero charges and levies a 2% charge for other instruments like credit cards.
Coming off of the back of a public tussle against American tech giant Google and its alleged monopoly within the tech sphere, Paytm is looking to utilise its massive 150 million-odd monthly user base to allow partnering organizations to have the maximum reach for their products and services.
Paytm has announced it penning partnerships with around 300 app-based brands, from sporting apparel manufacturer Decathlon to online medicine delivery system NetMeds.
The company’s excitement surrounding the prospects this deal holds, was clear from the words of CEO and founder Vijay Shekhar Sharma, who said, “I am proud that we are today launching something that creates an opportunity for every Indian app developer. Paytm Mini App Store empowers our young Indian developers to leverage our reach and payments to build new innovative services. For Paytm users, it will be a seamless experience that doesn’t require any separate download and enables them to use their preferred payment option,”
The new min-app store will provide brands and developers to enable payment options by linking their digital wallet, UPI, or payments bank at no extra charge. However, transactions made via other means like credit cards will have a 2% charge applied to it. Paytm is set to add a new separate section to its main app where these mini-app features will be listed for the user’s ease of use.
