Mobile payments firm Paytm said it will increase seller base on its online marketplace multi-fold to 500,000 by the end of next financial year.

The company has 100,000 sellers on its marketplace that offers a host of buying options to consumers.

“Our target is to increase our seller base from one lakh to 5 lakh by the end of next financial year (2016-17)”, Vice President-Business Sudhanshu Gupta told reporters.

The company is also running a lot of loyalty programmes for its sellers, Paytm Vice President Nitin Misra said.

Paytm facilitates about 300 million payment transactions per day and it has also forayed into offline mode of payment solution recently.

“In the last two years, Paytm has become one of the fastest moving market place. By January 2016, the company’s Gross Merchandise Value (GMV) stood at $2 billion. We hope to triple the GMV by the end of 2016-17”, Gupta said.

Source: The Economic Times