Are you one of those people who went on and on, ranting about having to wait in queues at the ATM to get your hands on the new pink notes? Cause then this might be of interest to you. Snapdeal has launched an exciting new service under which they’ll deliver cash up to ₹2,000 at your doorstep.
The service has been named Cash@Home and is currently in its beginning phase. Thus, the services are only available in Bengaluru and Gurugram in the pilot phase. It is expected to extend to more cities upon successful reception in the two originally picked cities.
A website delivering cash at home! Wait, what’s the catch here?
Well, this might come as a surprise to you but there is no catch. Snapdeal will be charging a convenience fee of as little as ₹1 for delivering the cash at your doorstep. Is it a great deal? You betcha’.
How to use the Cash@Home facility?
Install the Snapdeal app. While installing, allow Snapdeal to use your location for searching where cash is available nearest to you.
If cash is available, Snapdeal will inform you by sending a push and SMS notification. Then all you have to do to click on the notification, which will take you to the order page.
A Snapdeal logistics executive will come to your house the next day with a POS machine and all you have to do is swipe your card (or pay through mobile wallets) and get your cash.
Will it actually help solve the cash crunch?
Since Snapdeal started this service as a goodwill gesture, there is a per day limit of ₹2,000. Considering that, it is almost like trying to empty out an ocean with a spoon.
Of course, it might not eliminate all of the troubles due to this intense cash crux in the country, but it can sure be of relief to some.
So Snapdeal isn’t benefitting from this at all?
If you think that’s possible, you clearly don’t know how the world works. Not only would that make them the worst business venture ever, I don’t think they would even qualify to be called as a business in the first place.
According to Snapdeal they are using the cash that they had earlier received as CoD charges from their customers. So technically they are just freeing themselves from the hassle of having to deposit crores of undisclosed black money in their bank accounts?
And that’s not it. With every person trying to use the Cash@Home facility, a Snapdeal app install would be made. And that implies- more advertisements, more reach, and more money.
Much to our surprise, Snapdeal is not the first company to deliver cash at home by recirculating the money it generated through CoD charges. Grofers, Tailmill and a few more startups have chosen a similar path to earn more business by benefitting from the subsequent paralyzation of the system due to demonetization.
While cash at home delivery services might not be the ultimate solution to that, we could really look forward to some progress in resolving the never-ending queues at the ATMs. Let’s wait and see how it actually turns out.
Would you like to share your opinion and discuss more on the matter? Then add us on Snapchat and we could hit up an interesting conversation. Click the link below to add Economy Decoded on Snapchat.
Image Credits: Google Images
If you liked reading this, you might wanna check out:
Views presented in the article are those of the author and not of ED.