Trust our PM Modi to make a masterstroke just when the world is reeling with anticipation about the US elections. While the troubles in ecommerce were momentarily forgotten with our news feeds getting cluttered with updates from the US, everything changed in just one announcement from our government: “Time to bid adieu to Rs 500 & Rs 1000!”
In an attempt to curb counterfeit notes, corruption and black money, Modi ji made history and had everyone scrambling with “What now?” questions. It’s too soon to know the exact impact of this on ecommerce, but there could be some immediate repercussions on the COD facility.
COD no more?
It’s no secret that COD was a major factor in ecommerce popularity, particularly in the tier 2 and 3 cities. Could the new change lead to a dip in COD orders, one can only wait and watch.
For a few days now, ecommerce delivery boys could face a hassle in collecting payments from customers. While banks could probably take a few days to adjust, ATM’s too could take a few days in dispensing notes of other denominations instead of the Rs 500 and Rs 1000 notes. It would thus lead to difficulty for the customers to make payments.
As an online seller, what’s your take on this decision? Will this pave the way for more acceptance of digital wallets?