A few days back, Vijay Shekhar Sharma, CEO, and founder of Paytm announced that they will be launching a mini-app store in India for developers who are not willing to pay the 30% commission fees to Google and for all the other developers who are looking for a new app store or an alternative to Google Play Store. As per the new details from the CEO, they have announced a sum of Rs 10 crore investment for mini-app developers on the Paytm Mini App Store. It means that developers who want to build mini-apps on the platform will have an equity investment.
The investment terms will be one of the most lenient investment terms you can expect. The new platform will not charge any listing fee from the developers and is providing free [payment avenues such as Paytm Wallet, Paytm Payments Bank, and UPI. However, a two percent charge will be levied on credit cards. The CEO has also challenged and announced that the Paytm Mini app store will be able to bring 1 million apps to the platform before Google starts charging Indian developers with the mandatory 30% commission.
Meanwhile, Google has delayed the policy implementation in India till April 2022. Now, Google has been discussing the same with many Indian startups and trying to resolve their issue to make sure that it does not affect Google. Also, since Paytm has already announced the mini-app store, users in India are looking at it with a positive internet as it will provide a tough competition to Google Play Store in India.