After Grofers and Ola Cabs, it’s now Snapdeal that has come up with the idea of cash delivery at home and launched ‘Cash@Home’ service, which allows users to order cash upto Rs.2000 per booking and get it delivered at their doorstep.
#DigitalErra Thought CornerCustomers can now order Rs 2,000 per booking and the cash will get delivered the next day. The service is currently available in Gurgaon and Bengaluru which will be extended to other major cities in the coming days.
On the service, Rohit Bansal, Co-founder, Snapdeal said,
“As the country transitions to a more digitally-enabled economy, we’ve launched a series of timely initiatives – from wallet and card on delivery, to extending FreeCharge partnerships to smoothen this transition. The launch of the cash-on-demand service is intended to further help our consumers tide over any cash crunch that they might face in addressing their daily needs.”
Other Players in the Scene
On-demand delivery startup Grofers recently tied up with Yes Bank to allow customers to get cash of upto Rs 2,000 delivered at home on ordering from its grocery platform. But unlike Snapdeal, customers got to buy grocery worth Rs 2,000 to avail the facility with Grofers.
Taxi aggregator Ola has also even tied up with Yes Bank to deliver cash at your doorstep through micro ATMs powered by the bank. Moreover, Yes Bank and Ola launched a mobile ATM service allowing users to withdraw upto Rs 2,000 per card (of any bank account) from PoS terminals of Ola cabs, which are located near Yes Bank branch/ATMs across 30 locations in 10 cities.
Wonder How Companies like Snapdeal Will Benefit?
- The cash received through Cash on Delivery (CoD) will be used by Snapdeal to operate the facility, and Snapdeal will charge a nominal fee of Re 1, as convenience fee, which has to be paid through FreeCharge through a debit card at the time of booking the order.
- This will automatically promote the use of Snapdeal’s e-wallet FreeCharge as it costs Snapdeal to get it referred and installed in one’s device.
- It is a proven fact that ones you install an e-wallet service, you tend to pay all your bills as well shop from the convenience of e-wallet site/ app.
- Increased use of service will result into increased revenue for Snapdeal.
On an average, every ATM needs to be filled four times a month. The capacity of each “belly-fill” ranges between Rs 10 lacs and Rs 15 lacs. At the end of September this year, ATM base of nearly 220000 has been installed.
At a time when the country is going through shortage of cash due to demonetization drive and people are struggling to get cash even after standing in queues for hours outside banks, this service can bring some relief for the citizens.