— Removes Rs. 2000 cap imposed post monetization
17th November 2016: Snapdeal, India’s largest online marketplace, today announced that it is removing the Rs. 2000 limit applied to Cash on Delivery orders, in the wake of the demonetization announcement last week. Consumers can now resume paying by cash for all orders, as per business as usual.
Following the government announcement, Snapdeal had announced several quick measures to alleviate consumers’ concerns. Users were not only given the option of switching to card payments from cash, but also allowed to defer their deliveries by a few days, to get time to procure the desired currency. Additionally, Snapdeal and Freecharge had launched “Wallet on Delivery” within 24 hours of the demonetization. The crucial impact of this was that customers who did not have ready access to usable currency notes, could simply pay using their FreeCharge wallet at the point of delivery.
A Snapdeal spokesperson said, “We support the demonetization effort by the government, and are committed to making this transition as frictionless and convenient as possible for our consumers. We worked closely with our users throughout the last week to ensure there was no lapse in their experience, and they have responded by swiftly adopting alternative payment modes, especially the Wallet on Delivery option. We will continue to monitor the situation closely, and do as required to ensure it is business as usual on our platform.”
Snapdeal’s vision is to create India’s most reliable and frictionless commerce ecosystem that creates life-changing experiences for buyers and sellers. In February 2010, Kunal Bahl along with Rohit Bansal, started Snapdeal. Today Snapdeal is India’s largest online marketplace, with the widest assortment of 65 million plus products across 1000+ categories from over 125,000 regional, national, and international brands and retailers. With millions of users and more than 300,000 sellers, Snapdeal is the shopping destination for Internet users across the country, delivering to 6000+ cities and towns in India. In its journey till now, Snapdeal has partnered with several global marquee investors and individuals such as SoftBank, BlackRock, Temasek, Foxconn, Alibaba, eBay Inc., Premji Invest, Intel Capital, Bessemer Venture Partners, Mr. Ratan Tata, among others.
For further information visit: www.snapdeal.com