Paytm expects to welcome almost 1 million new providers who will market their services in the newly added Paytm Mini Apps Store. Speaking at the first Paytm Mini Apps developer conference held virtually today, Founder and CEO Vijay Shekhar Sharma stated that he expects close to 1 million apps on the Paytm Mini Apps Store, ahead of Google’s April 2021 deadline. has established a mandatory 30 percent charge. Income commission for Indian developers showing their apps on Android store. Sharma further stated that to promote the mini-app ecosystem more widely among startups, Paytm will spend Rs 10 crore (approximately $ 1.5 million) to develop the entire mini-app ecosystem.
Speaking to News18 earlier this week, Narendra Yadav, Vice President of Paytm, stated that as of now, Paytm does not seek to generate revenue from its app store offering, nor does it seek to compete directly with the Google Play Store in terms direct downloads. “We are offering startups with readily available distribution thanks to our daily active users and an easily available payment interface to use without paying commission. We are also not restricting companies from using other payment interfaces, ”Yadav said.
The Paytm Mini Apps Store incorporates Progressive Web Applications (PWA), which are instant applications that offer application-like interfaces without the need for the user to download an application locally on their phones. Users can access the app market through the main Paytm app, which will give them access to the full store and will also display personalized app recommendations based on how they use the Paytm app.
Speaking on whether the Mini Apps Store is a precursor to an eventual rival app ecosystem against the Google Play Store, Yadav said: “Right now the focus is only on the mini apps, and for a full app store, it’s very away from here. That said, we hope Indian developers will use this as a ready-to-use platform for developers who do not pay or cannot pay commissions as high as Google asks. “
Yadav further stated that Google’s arbitrary application of its App Store usage policies, as well as the fees charged to developers, is a clear sign of its dominance of the market, which is a major contributing factor to the establishment of the Mini Apps Store by Paytm. However, interestingly enough, Paytm’s main business goal at the moment is also to bring more developers and users into the Paytm umbrella, and having a million applications integrated into the Paytm payments application can be a constant way to dramatically increase the number. average users, especially those who use entry-level phones and don’t have enough available storage to download numerous local apps.
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