By predicting the user behaviour based on past usage, location and other data points, Paytm will now be able to offer relevant recommendations to users
Indian m-commerce and mobile payments company Paytm has acquired Shifu, a context-aware personal assistant app that mines the usage patterns of smartphone users and makes personalised and relevant recommendations to them.
Through the acquisition, Paytm aims to leverage the tech infrastructure of Shifu to enrich its customer experience.
The 20-member team behind Shifu has also come on board across various verticals at Paytm.
“Shifu has been quite popular as an intelligent task-managing app. By integrating their technology and behavioural modelling with Paytm app, we will be able to offer a highly intuitive and personalised experience to our users,” said Kiran Vasireddy, senior VP at Paytm.
“This acquisition will give further impetus to our focus on Artificial Intelligence, which will bring the next wave of disruption in e-commerce. By predicting user behaviour based on past usage, location and other data points, our platform will be able to offer relevant recommendations to our users,” he added.
Also Read: M-commerce firm Paytm acquires hyperlocal services platform Near.in
Shifu, owned by Delhi-based The Signals, is a free task managing app. Once the app is installed, it analyses the usage patterns of the device owner and makes a variety of suggestions based on a predictive algorithm.
While the app will continue to be available in its original form after the acquisition, the technology behind it will be used by Paytm to offer personalisation for its m-commerce customers.
With current user base of more than 100 million, Delhi-based m-commerce giant Paytm is soon launching banking services in India. The company’s investors include Alibaba Group, Ant Financials (AliPay), SAIF Partners, Sapphire Venture and Silicon Valley Bank.
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