Flipkart has emerged to be one of the biggest e-commerce shopping sites in India. They are celebrating their tenth anniversary and also looking forward in launching a Mega app which is going to be an all-in-one app including ordering food to booking tickets.
Flipkart has recently launched Pay Later scheme. By this users can buy items on a credit and pay later. After the amount accumulates in one’s account for a month, Flipkart sends a bill on the first of next month. But the option is not available for all but selected users.
The New Option
If your account balance is Rs. 5000 or above then this option will appear and Flipkart will send you the bill on first of next month and the amount must be paid within 10th of the month by any mode of payments. Flipkart has other plans too for the ones who will fail to pay by 10th.
New Mode Of Payment
A penalty of Rs 100 for amount of purchase up to Rs 2,000, Rs 200 for amounts between Rs 2,001 and 4,001 and Rs 400 for amounts Rs 4,001 and above.
If people still fail to pay, they would be suspended from using the option in future. This step is taken to curb out fake users reported since few years. Many people have ordered stuffs from fake Email Id’ and also used defaulty Credit and debit cards after making huge payments from the site.
But this sudden step of crediting an account must backfire Flipkart in certain ways as people can delete their accounts but Flipkart has taken right step in choosing people who can use this facility. Flipkart has a record of user history, their payments and address; so using all these data, the team would be looking forward to choose right people for making this new scheme work as fluently as possible.
If this plan works out then Flipkart may make huge profits and solve problems of fake users. Also people may want to buy an item but then log out due to lack of money in account, by this scheme they can but and pay later on which makes this new scheme lucrative and help Flipkart to give a tough competition to its counterparts.
Did You Know that Flipkart first started Cash On Delivery for users which is now a well known delivery payment method for all e-commerce sites. Hope Pay Later option too becomes as popular as that in future!
