PhonePe announces partnership with Flipkart to digitize cash on delivery orders
PhonePe has announced a partnership with Walmart Inc.'s Flipkart to digitise the e-commerce firm's cash-on-delivery services.
According to a statement, PhonePe's dynamic QR code solution will allow customers who previously chose "cash on delivery" to pay digitally through any UPI app at the time of delivery. This will help to reduce personal contact while ensuring safety, as well as drive contactless payments for customers who are more comfortable with cash on delivery.
"Digital payments adoption has become widespread over the past few years, thanks to UPI. However, there still continues to be a preference for cash on delivery among some customers at the time of delivery," PhonePe Director (Business) Ankit Gaur said. Digitising these cash-based payments would give a major boost to not just e-commerce but also contribute to the larger goal of Digital India, he added.
"Our partnership with Flipkart to enable contactless and safe payments for its 'pay on delivery' customers is a big step in that direction. Our solution not just offers a seamless and contactless payment experience to customers but also helps to reduce cash handling costs for e-commerce and logistics companies," he said.
Flipkart announced a "partial spin-off" of PhonePe in December of last year as part of a funding round that valued the digital payments firm at $5.5 billion.
"As the lines between e-commerce marketplace and digital payments continue to converge, it becomes imperative to solve for customers' evolving needs and attitudes," said Ranjith Boyanapalli, head (fintech and payments group) at Flipkart. "While the pandemic has urged several consumers to make a shift to online shopping, some trust deficit during checkout remains in pockets."
Flipkart's 'pay-on-delivery' technology aims to give customers peace of mind about their payments while also allowing them to shop from the comfort of their own homes, according to Boyanapalli. Flipkart has over 300 million registered customers and sells over 150 million products in over 80 categories.
“Digital payments adoption has become widespread over the past few years thanks to UPI. However, there still continues to be a preference for cash on delivery among some customers at the time of delivery. Digitising these cash-based payments would give a major boost to not just e-commerce but also contribute to the larger goal of Digital India," Ankit Gaur, director of business, PhonePe, said.
According to a statement, PhonePe's dynamic QR code solution will allow customers who previously chose "cash on delivery" to pay digitally through any UPI app at the time of delivery. This will help to reduce personal contact while ensuring safety, as well as drive contactless payments for customers who are more comfortable with cash on delivery.
"Digital payments adoption has become widespread over the past few years, thanks to UPI. However, there still continues to be a preference for cash on delivery among some customers at the time of delivery," PhonePe Director (Business) Ankit Gaur said. Digitising these cash-based payments would give a major boost to not just e-commerce but also contribute to the larger goal of Digital India, he added.
"Our partnership with Flipkart to enable contactless and safe payments for its 'pay on delivery' customers is a big step in that direction. Our solution not just offers a seamless and contactless payment experience to customers but also helps to reduce cash handling costs for e-commerce and logistics companies," he said.
Flipkart announced a "partial spin-off" of PhonePe in December of last year as part of a funding round that valued the digital payments firm at $5.5 billion.
"As the lines between e-commerce marketplace and digital payments continue to converge, it becomes imperative to solve for customers' evolving needs and attitudes," said Ranjith Boyanapalli, head (fintech and payments group) at Flipkart. "While the pandemic has urged several consumers to make a shift to online shopping, some trust deficit during checkout remains in pockets."
Flipkart's 'pay-on-delivery' technology aims to give customers peace of mind about their payments while also allowing them to shop from the comfort of their own homes, according to Boyanapalli. Flipkart has over 300 million registered customers and sells over 150 million products in over 80 categories.
“Digital payments adoption has become widespread over the past few years thanks to UPI. However, there still continues to be a preference for cash on delivery among some customers at the time of delivery. Digitising these cash-based payments would give a major boost to not just e-commerce but also contribute to the larger goal of Digital India," Ankit Gaur, director of business, PhonePe, said.
.jpg "Multycomm : Streamlining Enterprise Communications for an Enhanced Customer Experience & Brand Connect")
