Snapdeal reduces payment time to sellers by 40%
Snapdeal’s announcement is a welcome move for the 3,00,000 sellers on its platform. Faster payments will enable them to use their working capital more efficiently and generate additional business without needing to invest additional funds. For sellers who are working on the SD+ model, Monday’s announcement will mean a whopping 40% faster payment, which is also the best in class in Indian e-commerce industry.
Appreciating the announcement by Snapdeal, Sanjay Thakur, President of e-Seller Suraksha, a leading online seller forum, said, “We welcome Snapdeal’s initiative to make seller payments faster. This will go a long way in helping us plan better and do more business. Snapdeal has always worked with sellers in a true partnership mode and this is one more example of the same.”
Other sellers also expressed their approval of the announcement. Arvind Verma, VP, Marketing & Sales - Red Tape, said, “Snapdeal has been a great platform for our business, helping us reach a much wider set of buyers across the country. Today’s announcement will further help enhance our overall business experience on the platform.”
Vivek Bhalla - Director - NSDS Consultants Pvt Ltd, said, “We have enjoyed a seamless working relationship with Snapdeal. Faster payments are a welcome step which will will help us grow our business through Snapdeal’s marketplace.”
In recent announcements, Snapdeal has highlighted its commitment towards bringing in business efficiencies across its entire ecosystem - seller stakeholders being a critical part of the same. Today’s announcement is another step in this direction, and builds upon Snapdeal’s continuing efforts to help India’s small and medium businesses derive maximum growth and gains out of its platform.
Over the last several years, Snapdeal has deeply invested in data analytics, helping sellers sellers with research-based inputs on which products are in demand at a given time, given price, and in a given region. This has led to not just better conversions for sellers, but has also helped them build brand loyalty.
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