Paytm Mall hit by cashbacks, to cut down B2C business: Report
Paytm's e-commerce unit Paytm Mall has been affected by its cashback service and is "very close" to scaling down its B2C (business-to-consumer) business, as per a report. "Its key backers, Alibaba and SoftBank have realised that cashback-driven commerce is going nowhere," sources were quoted saying. The report added Paytm Mall has now decided to focus on B2B (business-to-business) service.