PM Modi bans Rs 500, Rs 1000; Will COD in ecommerce get affected?

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?

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1 Comment

  1. george Reply

    I have seen ladies crying for help by holding their babies / ill babies and doctor, medical shop refused to help.
    she was shouting and crying. This is just one case where TEARS come out from any good heart. Any human being that can understand problems of human.

    This is just one example out of lakhs of problems people facing due to ban of currency. According to experts it will help very very little to curb the black money.
    but as usual poor indians always suffer and die. Also there are lot of losses to small business. Total business collapse and people do not have money even to purchase milk pocket. This is financial emergency situation in India. On many paid news channels getting false news saying people are able to get money from banks but,that is not true. I am 100% sure nobody get Rs.15 lakhs in poor Indian account. But, sure lakhs of people getting lakhs of problems.

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