Flipkart has launched a contactless, QR-code-based fee facility for all its pay-on-delivery shipments. The fee technique not solely ensures larger security for shoppers at a time once they wish to decrease private contact; but additionally addresses the belief deficit that many shoppers would possibly face. Shoppers who earlier opted for money on supply can now use this facility, scan the QR code hooked up to their buy and make a digital fee for his or her order via any UPI app on the time of supply.
The variety of UPI-based funds has witnessed a gentle rise through the years, with offline person-to-merchant transactions accounting for 42.5% of all UPI transactions in December 2020. The pandemic has additionally accelerated the adoption of UPI funds, with 2.64 billion transactions recorded in April 2021 – a 100% improve over the earlier 12 months, in accordance with knowledge by NPCI. The brand new QR-based fee facility by Flipkart is anticipated to additional reinforce client belief in digital transactions, improve client security and contribute to an total improve within the adoption of digital commerce.
Ranjith Boyanapalli, Head – Fintech and Funds Group at Flipkart, stated, “Because the strains between e-commerce market and fintech proceed to converge, it turns into crucial to unravel for patrons’ evolving wants and attitudes. Whereas the pandemic has urged a number of shoppers to make a shift to on-line purchasing, some belief deficit throughout checkout stays in pockets. With ‘pay-on-delivery’ expertise, we need to be certain that prospects have peace of thoughts with their funds and on the identical time can store throughout the security of their houses.”
Flipkart’s QR-code-based function is about to usher in a shift from common Money on Supply (CoD) transactions to digital funds. Recognizing the necessity for simplified and simply accessible fintech options, Flipkart has ramped up the distribution attain of its digital choices to allow protected fee choices for consumers throughout the nation. The fee constructs and in-house fintech improvements of Flipkart are empowering new-to-internet prospects and serving to deliver the following 200 million customers to the platform.
