E-commerce company Yebhi has announced its own Wallet service for users. Named Yebhi Wallet, the company says that the wallet can be used to easily process refunds in addition to doing things like shop online, recharge mobiles and DTH and transfer funds back to your bank through NEFT at no extra cost. This seems to be the first time that an Indian e-commerce company is offering these features, even though the concept of a wallet has existed before in the Indian e-commerce space.
Mr Manmohan Agarwal, CEO Big Shoe Bazaar (which owns Yebhi) spoke about the new development.
“We take great pride in our ability to simplify shopping online. We have always focused on our customer requirements and believe in giving them maximum control of their funds, their purchases, and their shopping experience. This new initiative is the first of its kind in the country where the customer has complete access to their funds and exceptional control over their shopping, returns and refunds. ”
Yebhi says that the new feature is 100% secure and has a 256 bit SSL encryption. All the features of the wallet can be utilized without contacting Yebhi and its customer care thus giving its users more power on the platform. This is good considering that the logistics and processes involved in returns are normally a complex issue which can lead to dissatisfied customers if things go awry.
Yebhi received funds amounting to Rs.100 crores from Fidelity Growth Partners, Qualcomm and others last July. This was its third round of funding. Prior to this, the company acquired jewellery e-commerce venture StylishYou.in and integrated it with its existing offerings. Thus the company which had started by selling shoes online then began offering a wider range of product categories.
The wallet and its additional features are live on Yebhi and you can take a look at the demo here. To access the wallet log into your account on Yebhi. Do let us know how you like it.
Website | Yebhi