Private sector bank YES Bank has tied up with Smartbox Ecommerce Solutions for solving challenges related to last mile delivery for e-commerce players.
YES Bank in a statement here today said that it will help power the payment solutions for Smartbox network of Automated Parcel Delivery Terminals.
The Cash on Delivery model continues to account for over 50% of the e-commerce market which is slated to reach a size of $100 billion by 2020 and YES Bank's partnership will address this crucial challenge and help reduce costs for e-commerce companies while offering additional convenience to online shoppers.
With this association COD will be handled as CSOD (card swipe on delivery) on the terminals – thereby reducing the burden of handling cash on the entire ecosystem.
Smartbox has already launched 12 terminals which have been installed at primary metro stations and business centers in the Delhi NCR region. This network is expected to be expanded to over 1,000 locations covering 8 major cities in India by the end of 2016.
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