After Ola, Snapdeal Capitalizes On Demonetization

by CXOtoday News Desk    Dec 22, 2016


What could be termed as the smart move to capitalize on the demonetization, snapdeal has introduced an innovative offer where people cash order cash and have it delivered at their doorstep. The e-commerce marketplace today announced the launch of a “Cash@Home” service, which may prove a major relief to people who want to avoid long queues outside banks and ATMs. 

A few weeks back, taxi aggregator Ola partnered with Yes Bank to come up with a similar service wherein cabs brought cash at your doorstep via micro ATMs. Customers were allowed to withdraw up to Rs 2,000 per card from PoS terminals from Ola cabs located near Yes Bank branch/ATM across 30 locations in 10 cities of the country.

Snapdeal will be using the cash that it receives through Cash on Delivery (CoD) to operate this facility. The company will charge a nominal amount of Rs 1 as convenience fee, which will need to be paid through FreeCharge / through a debit card at the time of booking the order.

At the time of cash delivery, the consumers will need to swipe their ATM card on the PoS machines, which Snapdeal’s courier partners will carry for all such deliveries. Once transaction is successful, the courier person will hand over Rs. 2000 in cash.

A user can request Rs. 2000 per booking and any bank’s ATM card can be used to pay for the cash. The customers are not obligated to order anything else from Snapdeal to access the “Cash@Home” facility.

Speaking about the service, Rohit Bansal, Co-founder, Snapdeal said “At Snapdeal, we aim to be the marketplace that seamlessly services every customer need. As the country transitions to a more digitally enabled economy, we’ve launched a series of timely initiatives – from wallet and card on delivery, to extending FreeCharge partnerships to smoothen this transition. The launch of the cash on demand service is intended to further help our consumers tide over any cash crunch that they might face in addressing their daily needs.”

The service is already live in Gurgaon and Bangalore and will be extended to other major cities in the coming days, with the operative details to be updated as per user feedback and availability of currency notes.