eBay has agreed to buy a 5.5% stake in e-commerce marketplace Paytm Mall in a renewed attempt by the San Jose, California-based company to grab a foothold in India’s fast-growing and intensely competitive online retail market. The alliance between eBay and Paytm Mall is likely to add to competition in India’s online retail market, dominated by Amazon.com, Walmart-owned Flipkart and Snapdeal.

(Live Mint)