Planning to reach out to 10 Million SMBs (Small and Medium Businesses) by the end of 2020, global chip behemoth Intel and global smart devices and PC company Lenovo this week declared a joint venture with Paytm Mall.
In the joint venture, Paytm Mall (which is controlled by Paytm Ecommerce Pvt. Ltd.) on its platform will host an exclusive Lenovo brand store to boost instant purchases and discovery of the SMB series of laptops.
“While SMBs are boosting marvelous innovation, they still encounter hurdles when it comes to accepting of the correct IT infrastructure to attain operational efficiencies. With this joint venture, we look forward to give power to our users with the correct range of services and products,” Head of SMB at Lenovo India, Ashish Sikka, claimed to the media in an interview.
As per Lenovo, the brand store will allow the users to make instant buyouts and also avail the cash back deals. “This program is the effort from Intel India to engage with increasing business to set up the relevance of PCs in specific, and tech in general,” claimed Director for Retail at Intel India, Rahul Malhotra, to the media in an interview. There will be an option to buy laptops on no cost EMIs. The platform is also providing purchase offers and low-cost extended warranty to SMBs.
Speaking of Paytm, the company recently decided to raise $300–500 million to push its O2O (online-to-offline) retail business and draw clients to utilize its platform for making transactions, sources well known with the issue claimed. Renu Satti, who was leading Payments Bank by Paytm, has stepped down from her present job and will take on the COO’s job at the new vertical dubbed as New Retail. Paytm is presently in talks with SoftBank and US-based investors for funding.