The tie-ups will allow customers to pick up goods ordered online at a pre-specified location that are run by the financial services provider. This is the first time where financial services companies are providing real estate space to ecommerce companies to boost their businesses.
Yes Bank is expected to launch a new product -Smart Box, which is primarily a kiosk with many lockers and payment acceptance piece built into it. The customers of the ecommerce company will be offered option to pick-up their goods at any of closest kiosks run by Yes Bank.
A lot of ecommerce companies are not able to expand their market share because of the problems related to delivery since a lot of addresses are not verifiable, raising the cost of delivery. Further, due to rejections faced in the past, a lot of the ecommerce companies have barred some geographies with some pin codes.
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