Snapdeal reduces seller payment cycle by 40%; move likely to benefit SMBs

New Delhi, Mar 7 (KNN) In a move that would help thousands of micro, small and medium buinesses (SMBs), e-commerce player Snapdeal today reduced its seller payment cycle by 40 percent.

It has now become an e-commerce platform that offers the fastest payment schedule in the country.

Snapdeal’s announcement is a welcome move for the 3,00,000 sellers on its platform, many of whom are MSMEs.

With the faster payments they use their working capital more efficiently and generate additional business without needing to invest additional funds.

In recent announcements, Snapdeal has highlighted its commitment towards bringing in business efficiencies across its entire ecosystem - seller stakeholders being a critical part of the same. Today’s announcement is another step in this direction, and builds upon Snapdeal’s continuing efforts to help India’s small and medium businesses derive maximum growth and gains out of its platform.

Recently, it announced the launch of GST Guru, a program that offers sellers an exhaustive range of resources on GST compliance.