Industry

FINO PayTech flags off assisted e-commerce with snapdeal.com

FINO PayTech, a payments solutions provider has flagged off an initiative that brings e-commerce closer to people with no access to internet. In a first-of-its kind partnership with Snapdeal.com, the company has launched assisted e-commerce centres in semi-urban, rural and low income residential areas across the country. With this, FINO PayTech through its extensive network would provide access to an assortment of over 1000 Snapdeal.com products to people from low income groups.

The plan is to set up assisted outlets across 65 cities and over 70,000 rural areas by the end of this financial year 2014-15. FINO’s dedicated network of Money Mart outlets would lead the initiative forward. Some of the locations that provide assisted ecommerce service include Dharavi (Asia’s Largest Slum), Shivajinagar, Pune, Varanasi,Valsad (Gujarat) urban villages of Noida, Gurgaon, Hyderabad and Jaipur. Through the assisted e-commerce model powered by FINO PayTech network, people would be able to access and purchase from the special assortment of utility cum aspirational products offered by Snapdeal.com. The products offer a high value proposition and have been curated on an exclusive page requiring login by FINO agent, who would place an order, collect payment, receive and deliver to people who have no permanent address.

Launching the initiative, Rishi Gupta, COO and Executive Director, FINO PayTech said, “The innovative assisted e-commerce model brings the ease and benefit of e-tailing to more than 70% of country’s population not connected to internet but is aspirational and willing to explore online shopping. We are pleased to partner with Snapdeal.com in its efforts to reach out and provide an assortment of relevant products to this new customer segment. This association is of strategic importance as it allows us to unlock the potential of our last mile delivery network. We believe this breakthrough initiative could be a potential game changer in e-commerce after the hugely successful ‘cash on delivery’ and ‘mobile app’ models. Together we look forward to a deeper and long term engagement with customers through the unique assisted e-commerce model.”

Speaking about the partnership, KunalBahl, co-founder and CEO Snapdeal.com said, “Technology and innovation lie at the heart of Snapdeal.com and with this initiative we are taking yet another step to revolutionize the e-commerce landscape of India. By leveraging Snapdeal’s nationwide distribution network and reach, we can now try and make a difference to our country, both on the demand and supply side.We are thrilled to partner with FINO to reach out to the larger population of the country in semi-urban, rural and low income residential areas. Together we aim to provide innovative, yet simple ways to reach and service those end-consumers who are still not exposed to the benefits of online shopping. Keeping in mind the expectations and needs of the lower income group customers we have created a mixed assortment of aspirational and utilitarian products. FINO will assist in sales, payments and delivery of ordered products to customers through its network”.

 

(Source: Press release)

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