Snapdeal ties up with banks, digital payment firms for discounts

Our Bureau Bengaluru | Updated on March 19, 2018 Published on March 19, 2018

Shoppers who opt for digital payments through their credit/debit cards and wallets, for online purchases at Snapdeal over the next 12 months, will receive discounts worth ₹100 crore in the form of cash-back or instant discounts of up to 25 per cent, the e-commerce platform has said.

To enable this, Snapdeal has partnered with 12 banks — HDFC Bank, ICICI Bank, SBI, Citibank, American Express, Axis Bank, HSBC, Kotak Mahindra Bank, YES Bank, Standard Chartered Bank, IndusInd Bank, Federal Bank — and two digital wallets — FreeCharge and MobiKwik. All the partners will be launching promotions every day, beginning next month. The cash-back and discounted offers will be entirely funded by the banks and wallet firms.

These digital payment discounts are in addition to all other offers that Snapdeal will be running throughout the year.

Besides tying up with the banks and digital wallets, Snapdeal has partnered with Visa to let Visa cardholders of all banks benefit from opting to use the digital payment mode. The cardholders will get instant discounts using a unique code every time they shop on Snapdeal.

“We plan to make each and every digital payment a rewarding and money-saving opportunity on Snapdeal and are proud to be the platform with the highest number of such offers. We expect up to a million transactions to benefit from these offers each month, almost 32 per cent of these being first-time digital payment users” said a Snapdeal spokesperson.

The company expects to partner with at least 15 banking and five digital payment companies in FY2018-19.

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Published on March 19, 2018
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