Mumbai: Paytm will invest Rs 10 crore on the developers of Mini App Store said Paytm founder Vijay Shekhar Sharma in a virtual conference on Thursday. Sharma declared the new project and a week ago launched the mini play store. This app comes ahead of the controversy with Google, when it removed Paytm from the Play Store citing violation of rules. The company today hosted it’s first-ever developer conference for the Mini App Store, where the company will host Indian developers who will talk about ‘India’s Digital Revolution’ and showcase their mini-apps. The keynote will be followed by a product demo of the Mini App Store and a roadmap presentation. After that, a panel will speak on the “future of the app ecosystem and why India should control its own destiny.”
Vijay Shekhar Sharma pointed out that those who want to develop mini apps on our platform will get this facility in the form of equity investment. The company will also conduct workshops and webinars for this. This will enable a better offering on the Mini App Store. The platform will not charge any listing fee for mini app developers and is offering free payment avenues such as Paytm Wallet, Paytm Payments Bank and UPI. However, a two percent charge will be levied on credit cards. The company has set a target of 1 million subscribers by the first quarter of FY 2021.
Sharma added that it will not charge any commission for payments made for goods and services, sold by mini-apps on Paytm. Through its mini-app store, businesses, including small and big, can launch their progressive-web app (PWA), on the Paytm main app, and lead to discoverability of their online stores.
Significantly, after locking the horns with Google, Paytm launched its own mini app store. This store is similar to Google Play Store. According to Paytm, no money will be charged from developers for selling apps or content on this platform. On the same Google Play Store, if a developer sells an app or content from the Play Store, then he has to pay 30% to Google.