Flipkart, Amazon, Snapdeal sellers use Paydeck to pay their suppliers

With my latest encounter with the growth team of Paydeck, I tried to sniff in more, into details about the type of users using Paydeck.

The majority of number of transaction in a month is happening on Rent & Housing payments. But that is not actually the whole billing total.

The Volume is good at the Rent & Housing Payments, but the Flag Holders are Vendor, Supplier, Wholesaler & contractor Payments.

While digging in details, with permission from team Paydeck, got the chance to speak to couple of Loyal customers of Paydeck, who are extremely depending upon Paydeck to pay the vendors, suppliers, wholesalers etc.

These people are mostly those who are sellers on Flipkart, Snapdeal, Amazon, Shopclues etc. type of marketplaces. These sellers are the one who are SOHO merchants, who may never be able to get CC/overdraft from the banks. And due to delay in payments, their suppliers, vendors were actually not being so helpful or discounting in wholesale prices. And once a stuff is loaded to the Flipkart, Amazon, Snapdeal etc for selling, that stuff is stuck until the payment does not comes in. And adding new item will need credit on top of credit from the wholesale vendors & suppliers for these people. And the price wont be good in these situation. And hence overall margin gets affected.

How its working for Flipkart, Snapdeal, Amazon etc, sellers to use Paydeck?

These Sellers are asking the Vendors, Suppliers, wholesalers of their to send them invoice to their email or mobile. And then these sellers are making the payment with their credit card for the invoice.

Once the payment is done, the money gets to the reciever within T+4 working days to the max.

The Prices are getting discounted & the credit line of Credit card is used for good, to keep the flow coming.

Sellers & the counter part are actually doing 30%+ more businesses, as the stock and items are getting stacked and there is no delay on payments to the suppliers. This is adding to the overall margin for the sellers.

And the fees charged by Paydeck is actually being accounted as an Expense by the Sellers which they will file in their ITR at the end of FY.

Overall it has made the business grow either for sellers, wholesalers, vendors, suppliers or for Flipkart, Snapdeal type websites, for whom Paydeck is a silent & indirect partner.