Paytm is an Indian E-commerce giant which was founded by Mr. Vijay Shekhar Verma (founder and CEO of Paytm) with a capital of $2 Million in the year 2010. It provides a payment system and is digital wallet facility. Initially when it was introduced it only offered mobile recharge facility. However, over the years it has grown manfold and included facilities like bill payments, ticket bookings , financial services, banking facility, gaming, gifting facilities and even has its own Paytm shopping mall.
With the promise it shows it has secured funding from various venture capitalists and institutional investors like Alibaba, Softbank etc. With its growth it has even acquired various promising startups working in different fields like messengers, travel, healthcare etc. few such startups are Jugnoo, QorQL, Plustxt etc.
What is Paytm seller Registration?
As we discussed Paytm has also started its own e-commerce domain in the form of Paytm Mall. With its wide reach and popularity it has been acknowledged by the wide customer base. You can also reach such varied customer base without actually moving into different geographical markets through Paytm seller Registration. You can list your products on their e-commerce portal after successful Paytm seller registration. You are required to remit a percentage of the sale done through the portal to Paytm. Here, we will discuss about all the relevant issues related to Paytm Seller Registration.
Minimum Requirements for Paytm Seller registration
If you are planning to register as a Paytm seller then following minimum requirements are to be met with:
- Pan Card
- Business Registration
- GST Registration
- Bank Account
The applicant making Paytm Seller registration application is required to provide a copy of Pan Card as it is a mandatory requirement.
It is another important required. Thus the applicant for Paytm Seller Registration must be legally registered in any form like One Person Company, sole proprietorship, Limited Liability Partnership, Company, Partnership firm etc.
Goods and Service tax registartion is mandatory if you are willing to go for Paytm seller registration.
The business must have a current bank account in its name. As all the financial transactions are done online and through such specified bank account of the applicant.
Who can apply for Paytm Seller Registration?
Every legally acknowledged person is eligible to apply for Paytm Seller Registration:
- An individual trader can apply for this Paytm Seller Registration in their own capacity if they are managing their business by themselves.
- Any Partnership Firm can also apply.
- Limited Liability Partnership can apply through its partner.
- Any company can also apply including a One Person Company, Private Company, Public limited Company etc.
Information/ Documents required for Paytm Seller Registration
The applicant is required to submit a copy of Pan Card. Sole proprietors are required to submit their own pan card and in case of legal entities Pan card of the organization is required.
GST Registration Certificate
As GST registration is a necessary required for selling on e-commerce portals thus providing a goods and service registration certificate is very important.
Copy of Cancelled cheque
For providing the current bank account details the applicant is required to submit a copy of cancelled cheque. Name of the account holder/applicant must be mentioned on it.
Following information is verified through cancelled cheque:
- Bank Account Number
- Accout type (savings/Current)
- IFSC Code
- Name of the account holder
At the time of making the Paytm seller application the applicant is required to provide its contact details including Mobile number and Email ID. Such mobile number and email id must be operational as they are verified at the time of Paytm seller application processing.
Paytm Seller Registration Process
Without much capital inflow in the business you can access larger markets through registration as a seller on such e-commerce portals. Here we have listed out the steps involved in Paytm Seller Registration;
- Step 1: Business registration
- Step 2: Bank Account opening
- Step 3: GST Registration
- Step 4: Register on Paytm Website
- Step 5: Sign Partnership deed
- Step 6: Setup seller dashboard and start selling
If you are operating in a non formal manner and willing to market your products through e-commerce platforms then the first step will be Business registration in any form like Company registration, LLP registration etc. A registered business entity portrays stability and credibility in the business.
As soon as the business registration work is completed you shall visit the bank of your choice for opening a current bank account in the name of the business. For this purpose you are required to submit incorporation document along with other necessary documents for bank account opening.
Once business registration and bank account opening formalities are done with then next step is to apply for GST registration. This is an essential step as GST registration is made mandatory if you are planning to sell on any e-commerce marketing platform. Thus for Paytm seller registration having a valid GSTIN is a necessary requirement.
Once all the pre requisites are met with you can proceed with submission of Paytm seller registration on its portal https://seller.paytm.com/login Provide all the details including name, contact details, GST information, Bank account details etc. and submit the documents required to complete the Paytm seller registration.
Once the Paytm seller registration is done online a partnership deed with Paytm is executed stating the terms.
When done with all the formalities the seller shall set up their dashboard for the website and catalogue the products offered by them with pictures and details and start selling on the website.