The investment valued Paytm Mall at $3 billion, Paytm CEO Vijay Shekhar Sharma stated to the Nikkei Asian Review in Tokyo. Current backers include SoftBank Group and Alibaba Group Holding. 

 

With regard to the partnership, eBay will make its products available for purchase on Paytm Mall’s shopping platform, eBay said. 

 

The deal will give some additional firepower for Paytm Mall, which has been facing an uphill challenge with Amazon and Walmart-owned Flipkart. Last year, Forrester Research expected that Paytm Mall has a market share of only 6%.

 

Sharma said Paytm itself, which encompasses the core mobile payments business, is not seeking additional funding at this point in time. Paytm at present handles transactions worth $100 billion at an annualized rate and aims to double the number of merchants using its platform this year to 25 million, he said.

 

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