Major online shopping portal, Flipkart, has launched a new Wallet feature that allows shoppers to add credit to their Flipkart account and can be utilized to make purchases on the site, as and when required.
The Wallet can be topped up to Rs 10,000 using regular payment options like credit card, net banking and debit cards. As and when purchases are made, the balance shall be deducted off the Wallet.
One of the major advantages of this system is that one doesn’t need to input banking details every time a purchase is being made. But this comfort also increases a security risk since just losing the Flipkart credentials shall be enough to be siphoned off.
In case the amount available in the Wallet is not enough to make a certain purchases, the shoppers can pay the balance using traditional modes. However, ‘Cash on Delivery’ won’t be possible in such cases of partial payment.
Flipkart recently claimed to ship around 20 units every minute, with 65% of the purchases being made through Cash On Delivery (COD). The company had also hoped to grow its sales by more than ten fold this financial year.