ShopClues to benefit merchant with 80% advance payment service
ShopClues to benefit merchant with 80% advance payment service

ShopClues, one of India's largest e-commerce players, has introduced Express Payout service, which allows a merchant to get up to 80% of their pending payment in advance.

ShopClues, said, "This newly launched service aims to benefit any merchant who requires advance payment before the scheduled payment date. The merchants can choose to receive any amount up to 80% of their due payment with a small service charge and the requested payment is processed within eight hours."

Ganesh Balakrishnan, AVP, Seller Services, ShopClues said, "ShopClues' goal is to provide a level-playing field for its half a million sellers, 80% of whom are MSMEs from Tier II and III cities and towns. A majority of the merchants on the platform sell unstructured and unbranded products and usually are in need of regular cash flow to keep their business running. Through Express Payout we can provide these merchants access to working capital to ease their daily business requirements."

Last month, ShopClues introduced the Express Payout service to a small group of merchants, wherein over 70% of the merchants chose to avail the service. It has since been launched for all merchants on the platform and in three weeks has catered to over 2000 payout requests.

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