Paytm Seller – Paytm which is backed by the Chinese Alibaba Group is a relatively new entrant in the Indian e-commerce market and is very fast-growing and is backed by the innovative mobile wallet concept.
To start with Paytm started by offering online mobile and DTH recharging services but now has evolved into a full-grown e-commerce website that offers a variety of goods and services from bus tickets to electronics and more.
As Paytm is growing fast and is recording strong growth in sales and the number of customers this is the best time to become a seller on the Paytm platform. We will now look at the procedure for becoming a seller and how to complete the Paytm seller registration process.
WHY SHOULD ONE REGISTER AS A PAYTM SELLER
Because of genuine sales, discounts, and cashback e-commerce in India are witnessing a huge boom.
Paytm is the newest entrant in the e-commerce space and already has 10 crore plus customers and more than 60,000 sellers who offer 500 plus product categories across almost 40,000 pin codes across India.
Once you become a Paytm seller then you don’t have to worry about developing and maintaining an e-commerce website and you can then focus on delighting the customers by fulfilling their orders quickly and fast.
Also becoming a seller on Paytm requires almost no investment any vendor can become a seller and slowly but steadily scale up his business.
There is a step by step process which the seller has to follow to become a seller on Paytm and these are the steps involved in becoming a seller:
Step 1: Go to Paytm seller registration: First you need to make up your mind and then go to the Paytm seller registration page to start the registration procedure
2: Provide your name, phone, email, and choose a password for the account: Once you are there you need to provide all these details which are necessary for you to become a Paytm seller.
3: Complete the email verification process: This is a very important step and you have to verify your mail in this step.
4: Complete the mobile number verification process: Next you need to verify your contact number with the website
5: Update business information and address: Next you need to furnish all your business info and address of your business as well.
6: Provide KYC Documents: Next you need to furnish all the KYC documents as required by Paytm.
7: Approve the terms and conditions: You should next agree to all the terms and conditions of Paytm.
8: Update your catalog of products: Once you have registered then you can upload all your product catalog on the website
9: Begin selling on Paytm: Finally you are ready with everything and can start selling your products on Paytm.
DOCUMENTS REQUIRED FOR PAYTM SELLER REGISTRATION
The following documents are needed for seller registration:
- Name of the Business
- Private Limited Company / Partnership / LLP / Proprietorship
- Phone number
- Bank account number
- Account name
- Email address
- Bank IFSC code
- Copy of canceled cheque
- PAN number
- PAN card scan copy
- Bank name
- Bank branch name
- VAT registration
In case VAT registration is not available, then the seller must submit a Paytm VAT registration undertaking.
- Scanned copy of address proof
- Electricity bill
- Bank statement
- Aadhar card
- Passport copy
- Certificate of incorporation
- Rental agreement
REGISTERING A COMPANY OR LLP FOR BECOMING A PAYTM SELLER
Serious and big-time sellers who have an existing business and are venturing into Paytm seller can register an LLP or a private limited company while becoming a seller. When a seller has a separate legal entity it ensures that the promoters are protected from any and every liability during litigation. As most e-commerce sellers sell to buyers across the country thus it is recommended that they have limited liability protection.
VAT REGISTRATION-IS IT IS REQUIRED TO BECOME A SELLER
Absolutely, VAT registration is required for becoming a seller on Paytm. Only if the seller wants to sell books, handicrafts, and unstitched apparels then VAT registration is not needed. Also, a seller can start selling on Paytm without a VAT registration by providing an undertaking to obtain VAT registration. This being said Paytm will hold payments to the seller till VAT registration proof is submitted to Paytm.
This is surely the best time for becoming a Paytm seller as you will be able to reach an extensive audience and also get the benefit of technology and marketing of the Paytm team.
You will be able to generate a lot of business and your products will sell like hotcakes and thus you will end up making fantastic profits by taking advantage of economies of scale.
Paytm is the fastest growing e-commerce website in India and it has the advantage of more than 10 crore users who are already using its payment applications to pay bills and mobile recharge and book tickets. Thus it becomes easy for the seller to tap these users as they will definitely check pout the hot offers and sales when they visit the website for making payments.
In this business proposition, the seller benefits as he gets a well-known platform to sell on Paytm benefits as it gets a margin and the customer benefits as he gets great products at great prices.
Thus is this is a win all proposition for the seller, buyer, and Paytm. Many new sellers are registering on Paytm on a daily basis and thus are taking advantage of this mind-blowing opportunity.
Thus if you are a business and you want to tap online customers then it makes complete sense to go for becoming a Paytm registered seller as that way you will have access to millions of customers and also would be able to expand your market reach to reach all across the country India.