The recent move to ban the old Rs 500 and Rs 1000 notes has led to
interesting and quick change in the field of e-commerce, where Cash on Delivery
(CoD) till recent times has been a major mode of payment.
interesting and quick change in the field of e-commerce, where Cash on Delivery
(CoD) till recent times has been a major mode of payment.
Acting swiftly, FreeCharge and Snapdeal rolled out the “Wallet
on Delivery” (WoD) within 24 hours of the currency ban. In one week since
launch, more than 100,000 Snapdeal deliveries have been done using FreeCharge’
Wallet on Delivery. This may well be the start of a new trend, which combines
the “pay on delivery” expectation of some users and the “non-cash” payments
preference of all e-commerce companies.
on Delivery” (WoD) within 24 hours of the currency ban. In one week since
launch, more than 100,000 Snapdeal deliveries have been done using FreeCharge’
Wallet on Delivery. This may well be the start of a new trend, which combines
the “pay on delivery” expectation of some users and the “non-cash” payments
preference of all e-commerce companies.
With the Rs 2000 notes now coming in circulation, returning change
to the users is also a challenge faced by delivery staff. The same has been
resolved by FreeCharge through “Change on Wallet”. If a customer tenders
a Rs 2000 currency note, the change due is instantly transferred to the user on
their FreeCharge wallet.
to the users is also a challenge faced by delivery staff. The same has been
resolved by FreeCharge through “Change on Wallet”. If a customer tenders
a Rs 2000 currency note, the change due is instantly transferred to the user on
their FreeCharge wallet.
An added benefit of payments made through the FreeCharge wallet is
that in case a customer returns a product, the refund is credited back to the
wallet instantly as soon as the packet is picked up.
that in case a customer returns a product, the refund is credited back to the
wallet instantly as soon as the packet is picked up.
Govind Rajan,
CEO of FreeCharge, calls this the “faster than
cash” experience. Commenting on the initiatives he said, “With the higher
denomination currency notes no longer usable, thousands of e-commerce users
across India had the choice to either delay acceptance of their packets in
transit or cancel the order. We are delighted to have implemented these
practical solutions in real time.”
CEO of FreeCharge, calls this the “faster than
cash” experience. Commenting on the initiatives he said, “With the higher
denomination currency notes no longer usable, thousands of e-commerce users
across India had the choice to either delay acceptance of their packets in
transit or cancel the order. We are delighted to have implemented these
practical solutions in real time.”
