Paytm's e-commerce unit 'Paytm Mall' has cut down cashbacks by over 80% across categories to build "stronger O2O (online-to-offline) business model". Paytm CEO Vijay Shekhar Sharma said they would direct cashbacks from warehouses to physical stores. He said, "Most brands...are well distributed across thousands of cities...while warehouse inventory...is concentrated in top 20 to 30 cities only".