Flipkart rejigs policy for sellers; cuts payment processing cycle
PTI, Apr 28, 2022, 9:40 AM IST
Credit: Reuters photo
E-commerce company Flipkart on Wednesday announced a slew of changes in its policy for sellers, including a reduction in the payment settlement cycle and low return cost for performing sellers.
The company announced travel benefits for sellers in partnership with Cleartrip.
“Our industry-first policy changes and new tech capabilities aim to empower sellers and consumers while promoting India’s e-commerce growth story. We are committed to addressing some of the industry limitations faced by sellers, from payments to onboarding to cataloguing, through our new policies and capabilities,” Jagjeet Harode, Flipkart senior director and head of the marketplace, was quoted as having said in a statement.
Flipkart claims to have over 4 lakh sellers on its platform which serves more than 35 crore customers.
The company claims to have put in place an easy product listing process by introducing an automated solution which converts any product image to Flipkart-standard quality on the go.
Flipkart said that the new payment policy is aimed at easing the liabilities for sellers and freeing up their working capital.
“Flipkart will now process seller payments in 7-10 days from dispatch, making it the fastest and most predictable payment settlement platform,” the statement said.
Earlier the payment settlement cycle was 15 days from the date of dispatch, Harode said.
He said that the company will soon roll out a system to ensure low return costs for performing sellers.
Flipkart said that it is going to guarantee growth for new sellers based on their capability to serve consumers, where a guaranteed return on investments on advertisement spends for the right customer inputs will boost sellers’ visibility and make it easier for them to scale up their businesses.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
FPIs make remarkable comeback; infuse Rs 2 lakh cr in equities in FY24
PM cautions ‘significant risk of misuse’ of AI and other powerful tech in unskilled, untrained hands
RBI announces MPC schedule for FY25, first rates decision on April 5
Seven out of ten Indian shoppers say they would happily receive product deliveries without additional packaging
Renault Nissan to launch four new products, expand product portfolio
MUST WATCH
Latest Additions
Congress should fulfil tax obligations instead of levelling allegations against I-T dept: BJP
Chandrababu Naidu promises to develop Rayalaseema region if voted to power
Will decide future course of action after discussing with supporters: Sumalatha Ambareesh
IPL 2024: Kolkata Knight Riders ask Royal Challengers Bengaluru to bat
BJP indulging in tax terrorism; exemplary action will be taken after change of govt: Rahul Gandhi