Walmart-owned e-commerce firm says option would encourage pre-paid transactions and reduce cash on delivery
Current Affairs : Flipkart has propelled another installment technique that lets clients pay some sum for an item and the parity on conveyance, intending to lessen returns and scratch-offs.
The Walmart-possessed internet business monster, in an email to dealers, said ‘Part-Payment’ would empower prepaid exchanges. Clients can pay the rest of the sum in real money when an item is conveyed or either by online exchange. The rate card will continue as before for ‘part installment’ orders.
Web based business sites permit clients paid ahead of time, post-paid (money down) or EMI (compared regularly scheduled payment) as alternatives to buy items. Most clients pick money down (CoD), which brings about higher units or GMV (net product esteem) yet chances organizations a higher danger of scratch-offs.
Flipkart told dealers ‘Part-Payment’ would assist them with getting higher GMV development and decrease abrogations. The organization, which this week got a $1.2-billion venture from Walmart, works with more than 200,000 merchants and 250,000 little dealers, for example, craftsmans, weavers, and skilled workers.
Specialists state that the COD strategy has been a significant reason for counterfeit purchasing and has prompted higher retractions and returns which has expanded coordinations costs for the internet business organizations.
Aditi Mehta 