New Delhi: Snapdeal, India’s leading e-commerce marketplace, on Wednesday said that it has tied up with regional banks like RBL Bank, Federal Bank and Jana Small Finance Bank in order to deepen its penetrate in non-metro markets.
Tier II and Tier III cities are some of the biggest markets for Snapdeal and these partnerships work well as they leverage the regional connect of the banks and the value-conscious selection available on Snapdeal.
A Snapdeal spokesperson said, “Our aim is to maximise the value for our customers each time they buy on Snapdeal. Through our existing and new partnerships, we provide multiple opportunities to customers to enhance their savings. We are delighted to see the consumers welcome these partnerships with banks.”
Snapdeal also has tie-ups with leading banks like State Bank of India, Bank of Baroda, HDFC Bank, ICICI Bank, Axis Bank, IndusInd Bank, HSBC, and Standard Chartered Bank for offers.
Snapdeal is the leader in payment partnerships and expects to conclude this financial year with 25 partnerships with banks, digital wallets, NBFCs, and payment networks.
Earlier this year, it announced that India’s leading banks, digital payment companies and global payments technology companies have lined up Rs100 crores worth discounts on Snapdeal.
Snapdeal has already converted more than 4 million Cash on Delivery (CoD) customers to digitally paying ones during the first 7 months this financial year. About 7 million customers opted for payment offers during the same period on Snapdeal and 1 million of these were first time online shoppers. Snapdeal expects more than 12 million users to avail payment discounts on its platform this financial year.