Merchant Innovation

Snapdeal Partners On ‘Special eCommerce Zone’

As the eCommerce market grows across India, the country’s largest online marketplace Snapdeal has made a deal with a local government to secure a “special eCommerce zone.”

The Economic Times reported yesterday (June 22) that a deal has been struck between the eCommerce company and the Himachal Pradesh government. The goal of the partnership is to help encourage artists to sell their handcrafted products on the Snapdeal marketplace, giving those artisans a business boost by connecting them online.

“With the special eCommerce zone, we are looking at invigorating and mainstreaming local economies by linking and assisting them to harness the potential of the Internet,” Snapdeal cofounder and CEO Kunal Bahl told the local news organization.

Not only will the marketplace open up a new realm of business for those artists locally, Snapdeal also said it plans to assist artists in selling their products on a national scale — but with products manufactured in the area. Local government leaders hope this partnership can also provide the region with an economic boost.

“I am delighted that Snapdeal has taken the initiative to create employment and entrepreneurial opportunities in Dharamshala by creating a special eCommerce zone,” Himachal Pradesh Chief Minister Virbhadra Singh said in an interview. “It will have a positive impact on the economy of this region, which until now has been largely based on tourism.”

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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