Mobile payment services firm Paytm, which has recently entered into e-commerce space, is set to roll out a new service that will enable the customers to receive goods within just two hours of placing the order.

Paytm is looking to make an initial investment of Rs 100 crore to begin the new service, which has been named as 'Fastest Expert Delivery'.

Initially, the company plans to deliver mobiles through the new programme and the customers will also get a demonstration of the features of the product at the time of delivery.

"We are starting Fastest Expert Delivery (FED) programme with The MobileStore under which we will get mobile devices delivered to customer through an expert of the product within two hour of getting the order on our platform. We will spent Rs 100 crore in the next six months to popularise it," Paytm Associate Vice President Amit Bagaria told PTI.

Paytm is planning to bring other products categories under the programme, including washing machine, refrigerator and air conditions.

"While this model will enhance trust of customers towards online business, it will also generate business and savings for traditional retailers. We expect to generate additional revenue of over Rs 4,000 crore in a year from this model," Bagaria said.

Paytm, which recently entered the elite group of startups with a $1 billion valuation, is backed by Chinese e-commerce firm Alibaba Group.

In July, Paytm had bagged the title sponsorship rights for India's international home matches from the Board of Control for Cricket in India (BCCI) for four years.