Flipkart Bringing Part Payment Option to Reduce Cancellation

An E-commerce website Flipkart has launched a part payment option. Under this, customers can pay a little money while purchasing a product and later there will be an option to pay full money. According to a Business Standard report, Flipkart, a Walmart company, has sent an email to its sellers saying that part payment will encourage prepaid transactions.

While making the purchase, you will be able to make some payments and there will be an option to make all the money after the product is delivered. There is no talk of taking any extra charge for this and for this also the rate card will remain the same as other payment methods.

Flipkart will also benefit due to partial payment or part payment. Because there was a problem of product cancellation and return in cash on delivery, the return and cancellation for users purchasing with this method will not be as easy as in cash on delivery. Flipkart has propelled another installment a strategy that lets clients pay some sum for an item and the equalization on conveyance, meaning to diminish returns and retractions.

The Walmart-possessed online business goliath, in an email to vendors, said 'Part-Payment' would energize prepaid exchanges. Clients can pay the rest of the sum in real money when an item is conveyed or either by the online exchange. The rate card will continue as before for 'part installment' orders.

It is worth noting that due to the Coronavirus outbreak, e-commerce companies have also been damaged like other sectors after the lockdown across the country. In such a situation, these companies will now want to sell more and more products and reduce cancellation.

Although e-commerce websites still offer cash on delivery option, they are also sometimes charged extra. Not only this, but cash on delivery option is also not available with many products. This year Flipkart surpassed 1.5 billion visits per month and reported a 45% growth monthly. Its active customers and 30 percent growth in transactions per customer for FY20. Flipkart offers 150 million products across more than 80 categories. The firm had pioneered customer-centric services such as cash-on-delivery, no-cost EMI, and easy returns.