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52 minutes ago, Mysteryman said:

I know. I saw the huge cashbacks offered on laptops and mobiles like iPhone X so something’s fishy on how the payments are made.

Venture capital. How did you get to ponzi scheme is beyond me. 

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58 minutes ago, adity said:

Venture capital. How did you get to ponzi scheme is beyond me. 

Well. Paytm and its sellers are small in size and revenues as compared to Amazon. Only Amazon can pull off those cashbacks as it obviously has massive capital. 

 

In paytm, it is offering cashbacks over Rs 8000 for laptops like Dell or iPhones and such cashbacks been going on years. How can it or its sellers recover their lost margins or repay the manufacturer? From Venture capital? Or revenues from future sales and on and on like that of a Ponzi scheme where they pay off the older customers with the investments of the new customers?  Who knows? As far as we know that Paytm is not reliable. So recommend NOT to buy expensive products from Paytm. 

Edited by Mysteryman

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29 minutes ago, Mysteryman said:

Well. Paytm and its sellers are small in size and revenues as compared to Amazon. Only Amazon can pull off those cashbacks as it obviously has massive capital. 

 

In paytm, it is offering cashbacks over Rs 8000 for laptops like Dell or iPhones and such cashbacks been going on years. How can it or its sellers recover their lost margins or repay the manufacturer? From Venture capital? Or revenues from future sales and on and on like that of a Ponzi scheme where they pay off the older customers with the investments of the new customers?  Who knows? As far as we know that Paytm is not reliable. So recommend NOT to buy expensive products from Paytm. 

 

Here is what i understand. Paytm gives cashback from their own pockets. the retailers/sellers don't bear the brunt. If you see prices on majority of the ecommerce websites it would be more or less the same barring a few cases here and there, and only cashbacks are the reason people prefer paytm for purchasing products.

 

By giving cashback. Paytm is kind of keeping your money (Virtual money) which you have already paid to them. So by giving you cashbacks they are making you come back and purchase more from them. It is a cross sell technique. So in turn to utilize your already paid money, you would put either additional money to buy something or you would use it for your mobile bill, etc. and in doing so increasing their transaction counts. 

 

And a companies evaluation is done basis the number of transactions/customers/people visiting a website. Which giving cashbacks does to them. So all in all by doing all this they are increasing their companies worth and thus bringing loads of money from the investors, and in doing so making people dependent on it for few of their activities. 

 

And where they are getting all this money from ? - their investors, and from our pockets where we do so much of additional unwanted shopping just to utilize the "cashbacks"  :) 

 

But yes would recommend to buy from decent sellers over at Paytm, they have also started some tagging of premium sellers/authorized sellers which atleast gives the buyer a bit of confidence. 

 

Also don't forget the humoungous data which they collect from our transactions and all doing all sorts of analytics and tying up with companies and organizations to do study on customer base. Also companies now days sell information as low as ₹10 for a persons email id and phone number. so there are plenty of ways to make money besides selling products.

Edited by Nathan.Drake

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21 minutes ago, Mysteryman said:

Well. Paytm and its sellers are small in size and revenues as compared to Amazon. Only Amazon can pull off those cashbacks as it obviously has massive capital. 

 

In paytm, it is offering cashbacks over Rs 8000 for laptops like Dell or iPhones and such cashbacks been going on years. How can it or its sellers recover their lost margins or repay the manufacturer? From Venture capital? Or revenues from future sales and on and on like that of a Ponzi scheme where they pay off the older customers with the investments of the new customers?  Who knows? As far as we know that Paytm is not reliable. So recommend NOT to buy expensive products from Paytm. 

Paytm's valuation is 10 billion USD which is quite substantial. Also, remember that they also charge some selling commission on every transaction from sellers. So the entire cashback isn't a loss.

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1 hour ago, Mysteryman said:

Well. Paytm and its sellers are small in size and revenues as compared to Amazon. Only Amazon can pull off those cashbacks as it obviously has massive capital. 

 

In paytm, it is offering cashbacks over Rs 8000 for laptops like Dell or iPhones and such cashbacks been going on years. How can it or its sellers recover their lost margins or repay the manufacturer? From Venture capital? Or revenues from future sales and on and on like that of a Ponzi scheme where they pay off the older customers with the investments of the new customers?  Who knows? As far as we know that Paytm is not reliable. So recommend NOT to buy expensive products from Paytm. 

 

Are the cashbacks actual cashbacks though? For example an iphone SE on Paytmall is like 19.5k with a 2k cashback, effectively making its price 17.5k. On Amazon its 17.9k but I have seen it go for 17.5  as well. 

 

This has been true of almost everything I can remember checking for on PayTm. And you have to deal with the hassle of buying what might be a substandard or fake item. And they get to keep you in their ecosystem. Not worth it when the price difference is usually 1-2% at best. 

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God of War PS4 ₹2639
Use GAME12 to get 360 cashback
Thanks, we also get an another 1% off if we buy through the app.

Also for those wondering how or why paytm gives such deep cashbacks. We have to remember that paytm is trying to compete with amazon and flipkart snapdeal tried and failed so the only way they can gain customers is through these cashbacks and they can afford to do so because their payments business has already started to generate profits and it is basically owned by Alibaba, China's biggest e commerce website.

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All of the ecommerce sites are giving discounts and cashbacks out of their own pockets(actually VCs). Its all a numbers game in my opinion. Keep increasing transaction count without regards to profit/loss, keep getting more money from VCs at higher valuations.

Most of these ecommerce sites are in heavy losses.

I know the logic is in the long run they will put offline retailers out of business and recovers costs but I don't see how the likes of FK are gonna make back losses in the tune of 3000crore. Also , in India , offline retailers aren't going anywhere, atleast not for the next 10 years.

Edited by Playstationdude

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6 hours ago, Aftrunner said:

 

Are the cashbacks actual cashbacks though? For example an iphone SE on Paytmall is like 19.5k with a 2k cashback, effectively making its price 17.5k. On Amazon its 17.9k but I have seen it go for 17.5  as well. 

 

This has been true of almost everything I can remember checking for on PayTm. And you have to deal with the hassle of buying what might be a substandard or fake item. And they get to keep you in their ecosystem. Not worth it when the price difference is usually 1-2% at best. 

This is true. Except for some items, the price is almost same on Amazon, FK and paytm for many items.

 

Not only for items, even for ticket booking its the same with paytm,redbus and mmt. 

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BikenWear Indicator Cover 82% Off ₹82.67

 

Airwick Freshmatic Complete Kit Summer Delights - 250 ml 49% Off ₹260

 

1 minute ago, AtheK said:

I never buy anything of Paytm, for some reason I just don't trust them at all. 

I was skeptical like you, but then I started buying small. Products where no warranty is involved or of lesser value items. Those are good enough. I won't recommend buying high value products unless there is a huge difference or it's a Brand Authorized Seller and the seller is there in Amazon too.

Edited by santanu18
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1 hour ago, santanu18 said:

BikenWear Indicator Cover 82% Off ₹82.67

 

Airwick Freshmatic Complete Kit Summer Delights - 250 ml 49% Off ₹260

 

I was skeptical like you, but then I started buying small. Products where no warranty is involved or of lesser value items. Those are good enough. I won't recommend buying high value products unless there is a huge difference or it's a Brand Authorized Seller and the seller is there in Amazon too.

Same here,  but small to medium stuff,  paytm or paytmall is better than amazon and flipkart put together IMHO

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