New Delhi [India], Nov 17 : The recent move to ban the old Rs. 500 and Rs. 1000 notes has led to interesting and quick changes 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.
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. 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.
"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," said CEO of FreeCharge, Govind Rajan.