Paytm Mall, company of Paytm Ecommerce Pvt Ltd has announced a partnership with E&Y which will undertake frequent audits to identify, analyse and monitor various in-built and outsourced processes to recommend global practices that will be applied to build a ‘Technology driven Fraud Prevention System.’ This will strengthen the company’s mission to build a secure and trusted shopping experience for the buyers and partnered sellers across India and soon to be launched global operations.
Paytm Mall’s mission is to build a trusted commerce platform enabling brands and shopkeepers in growing their business. The platform continues to de-list fraud merchants and take strict action wherever needed. Apart from Admin, Finance and other support functions, the company also has a business operations team which works closely with partnered merchants to plan and execute cashback offers and promotions leaving a scope for collusion. The E&Y partnership will also undertake audit and fraud prevention using both human and AI.
Srinivas Mothey, Sr. Vice President – Paytm Mall said, “Our partnership with E&Y will help benchmark with global best practices as we build a Technology Driven Fraud Prevention System to scale our operations. Our teams continue to work closely with E&Y to share our learnings and insights. We are committed to build a trusted commerce platform and will take strict action against wherever needed.”
Paytm Mall has fast emerged as the preferred O2O platform across the country and has witnessed over 200% growth for their O2O business in the last 6 months. The company has also hired 200 new resources across various functions that will work towards further growth of the platform and is also looking at hiring 300 additional resources in the coming months.