Snapdeal Introduces QR-Based Digital Payments At Customer's Doorstep
Snapdeal Introduces QR-Based Digital Payments At Customer's Doorstep

Snapdeal, India’s leading value-focused online marketplace, with allow buyers to make QR-based digital payments at the time of accepting delivery of their orders.

This partnership with the National Payments Corporation of India (NPCI) is aimed especially at new or first-time users who are not comfortable in pre-paying for the goods at the time of purchase.

The customer will be offered the 'QR-code payment option' at their doorstep as part of the delivery process. Using links on their delivery app, the delivery executive will generate a UPI-linked QR code for the order amount. The customer will be able to scan the code with any UPI-linked payment app on their phone and pay for their purchase. The customer will be able to confirm the name of the payee and the amount before approving the payment.

The facility will work with all UPI-payment options, including Bhim, Google Pay, Whatsapp Pay, PhonePe, Paytm, and UPI apps from leading private & public sector banks like HDFC, SBI, ICICI, and others.

Given Snapdeal’s strong connect with buyers in non-metro cities, this integration is also aimed at increasing the usage and adoption of UPI-based payments in smaller cities. Apart from the main private & public-sector banks, Snapdeal buyers who bank with cooperative banks (scheduled cooperative banks, district cooperative banks, state cooperative banks, urban cooperative banks) and regional rural banks (RRBs) will also be able to pay via this feature.

This partnership plays upon the complementary strengths, of both Snapdeal & NPCI, with a very strong alignment towards a common target audience. For UPI, this presents an opportunity to increase usage in a meaningful way, by offering hassle-free payment across a variety of merchants.

According to Rajnish Wahi, Senior Vice President, Snapdeal, “We are always looking out for additional ways to make the online experience better and more convenient for our customers, especially for those who are starting their online journeys. This integration with NPCI allows our users to time the payment to their comfort levels and also enables our delivery partners to reduce the handling of cash. We also believe that this will expand the adoption of UPI in smaller cities and towns in India.”

The digital pay-on-delivery option reduces the time spent at the doorstep for delivery. The move also helps reduce the amount of cash handled by delivery executives and courier companies, as the amount flows directly from the customer’s bank account to the designated account of the marketplace.

This partnership will enable UPI users to make digital payments at the time of the delivery of their Snapdeal order.

Snapdeal has a wide array of digital payments available on the platform. This includes credit and debit cards, EMI, net banking, e-gift cards, e-wallets, etc. The e-commerce firm also has a large and exciting line-up of payment offers since the beginning of the festive season this year.

 
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Retail India News: Convergent Finance and Samara Capital to Acquire Majority Stake in Agro Tech Foods Limited
Retail India News: Convergent Finance and Samara Capital to Acquire Majority Stake in Agro Tech Foods Limited
 

Convergent Finance LLP and Samara Capital have jointly declared the finalization of definitive documents for acquiring a 51.8 percent stake in Agro Tech Foods Limited (ATFL) from a subsidiary of Conagra Brands, Inc. ATFL, a listed company on the Bombay Stock Exchange and the National Stock Exchange, will undergo a mandatory open offer for an additional 26.0 percent of outstanding shares due to this acquisition. The deal is pending customary regulatory approvals and is anticipated to be completed in due course.

Conagra has been a controlling shareholder of ATFL since 2011, and during its tenure, ATFL expanded its food portfolio, featuring renowned brands like ACT II popcorn and Sundrop edible oils. Both brands are leaders in their categories, catering to both in-home and out-of-home consumption. ATFL will retain the license for the ACT II brand from Conagra for use in India.

Harsha Raghavan, Managing Partner at Convergent Finance said, “Agro Tech Foods’ category-defining brands have been beloved household names for the past three decades, thanks to the company’s relentless focus on quality, innovation, and customer delight. As India’s rapidly-growing consumer class expands and discretionary income levels continue to rise, we will expand ATFL’s distribution reach and product range, thereby transforming it into the country’s leading packaged and snack food platform.

Manish Mehta, Managing Director and Co-Chief Investment Officer at Samara Capital said, “We are delighted to lead the acquisition of a majority stake in ATFL in partnership with Convergent. The company’s brands have high recall value with India’s consumers, and we aim to complement this hard-earned recognition with our knowledge of India’s food and consumer sectors to increase ATFL’s presence in fast-growing, high-margin categories. We intend to create a large and unique branded food platform in the country with this acquisition.

Convergent Finance LLP, known for its investment management and advisory role, follows a value investing approach, emphasizing fair valuations through negotiated transactions. Samara Capital, founded in 2007, is a mid-market private equity firm in India with a focus on creating long-term value in partnership with entrepreneurs. Consumer and Retail form a significant focus area for Samara.

Conagra Brands, Inc, headquartered in Chicago, is a leading North American branded food company with a portfolio of iconic brands, including ACT II, Birds Eye, Duncan Hines, Healthy Choice, and Marie Callender’s, among others. The company is driven by a commitment to innovation and evolving to meet changing food preferences.

 

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