Flipkart changes policy for sellers; reduces payment processing cycle

E-commerce company Flipkart on Wednesday announced a series of changes to its policy for sellers, including a reduction in the payment settlement cycle and a low cost of returns for successful sellers.

The company announced travel benefits for sellers in partnership with Cleartrip.

“Our industry-first policy changes and new technology capabilities are aimed at empowering sellers and consumers while promoting India’s e-commerce growth story, policies and capabilities,” said Jagjeet Harode, senior director of Flipkart and head of the market, was quoted in a statement.

Flipkart claims to have over 4 lakh sellers on its platform which serves over 35 crore customers.

The company claims to have implemented a simple product listing process by introducing an automated solution that converts any product image to standard Flipkart quality on the go.

Flipkart said the new payment policy aims to ease sellers’ responsibilities and free up their working capital.

“Flipkart will now process payments from sellers within 7-10 days of shipment, making it the fastest and most predictable payment settlement platform,” the statement said.

Previously, the payment settlement cycle was 15 days from the date of shipment, Harode said.

He said the company will soon roll out a system to ensure low return costs for successful sellers.

Flipkart said it will ensure the growth of new sellers based on their ability to serve consumers, where a guaranteed ROI on ad spend for good customer reviews will increase sellers’ visibility and allow them to grow more. their activities easily. .

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