India’s PM Narendra Modi‘s bold move towards making the Indian Economy corruption free has now taken a one of the biggest step of demonetize Rs 500 and Rs 1,000 notes that not only struck its citizen but also created a sense of uncertainty in the e-commerce industry.
Well the Safest option in Most e-commerce sites is the “Cash on Delivery (CoD)” which also have a large proportion of buyers opting for Cash on Delivery (CoD) as the preferred payment option but with the notes suddenly going out of circulation, the major e-commerce players have stopped the CoD option, while other services are encouraging their customers to choose the online payment option.
If you tends to choose the CoD option on Amazon India, you will get a popup message that reads, “We have disabled CoD for you to save cash for essential payments. Use credit/debit cards, net banking or gift cards to complete your purchase.” Flipkart shows a similar message on orders over Rs 2,000 — “This payment option is not available for this order. Please try some other payment mode.” There is also a banner on the homepage with the caption — “Paying in cash? We are unable to accept Rs 500 or Rs 1,000 notes, further to the government order.”
Snapdeal, on the other hand, continues to offer the CoD payment option but has given advisory of Cash on Delivery orders can pay for their deliveries using any currency notes except the Rs 500 and Rs 1,000 notes discontinued by RBI. a warning for its buyers — “Dear customer, in light of the recent govt [sic] mandate – please note that Rs 500 and Rs 1000 notes will not be accepted for your CoD orders.” Kunal Bahl, co-founder and CEO, has already welcomed Modi’s move to stop the use of these notes and believes this is a significant step towards digital economy. “Both Snapdeal and FreeCharge are committed to supporting all such initiatives,” he said.
Paytm too has halted the option of CoD for its customers. ”Today is a historic day for India and it re-validates our belief in giving consumers a great experience through non-cash purchases. This reflects in the fact that over 98 percent of items are bought through our wallet and other pre-paid payment instruments on our marketplace. Keeping in spirit of the moment we are temporarily disabling CoD orders to avoid any inconvenience to our consumers at the time of delivery. We will continue to focus on making payment simpler for our consumers and providing them with a great experience,” Saurabh Vashishtha, Vice President – Paytm said.
Uber too has a ‘service announcement’ for its users which reads, “Currency notes of Rs 500 and Rs 1,000 are no longer valid and your Uber driver may not accept these notes. Please carry smaller denomination currency notes to pay for your tip. Alternatively, you may link a digital payment method.