Banks Tie Up amazon, Flipkart Snadeal

Amazon enters partnership with State Bank of India-LiveMint 25 May 2015

Amazon and SBI to identify areas of cooperation to build a digital India

 

Online marketplace Amazon has entered into a pact with State Bank of India (SBI) to develop payments and commerce solutions for consumers and small businesses.

          

Through this partnership, both Amazon and SBI would identify areas of cooperation to build a digital India, said an Amazon statement on Wednesday. “India is a land of entrepreneurs and e-commence has the potential to transform the livelihoods of millions of small businesses by helping them sell nationally and globally,” said Amit Agarwal, vice-president and country manager, Amazon India.

 

SBI had earlier collaborated with taxi hailing services Ola to disburse car loans to drivers on the taxi aggregator’s platform on a daily repayment basis. “Our partnership with e-commerce platforms like Amazon would give a fillip to e-commerce in India and brings lots of value to our retail and SME (small and meium enterprise) customers,” said Arundhati Bhattacharya, chairman, SBI.

 

India is home to 46.7 million micro, small and medium enterprises (MSMEs), which together employs over 100 million people, according to the annual report of the ministry of MSMEs.

 

SBI ties up with Snapdeal to offer seller finance-Hindu Business Line-25.05.2015

 

State of Bank of India (SBI) on Thursday entered into a seller financing scheme with e-com major Snapdeal.

 

Under the scheme, SBI will provide loans to small and medium enterprises at easier interest rates. Data regarding the sellers will be provided by Snapdeal.

 

 

"Rates of interest will be determined by the credit worthiness of the seller," Arundhati Bhattacharya, Chairman, SBI, said after signing the MoU with Snapdeal.

 

The country's biggest lender (SBI) had an MSME loan book of approximately Rs. 170,000 crore as on December 31, 2014.

 

The seller financing scheme will help MSMEs — traders, sellers and manufacturers — scale up their operations by catering to their working capital requirements, Bhattacharya said.

According to Kunal Bahl, CEO, Snapdeal, there are at least 150,000 sellers associated with Snapdeal. E-com major Snapdeal operates in a marketplace model.

http://www.thehindubusinessline.com/industry-and-economy/banking/sbi-ties-up-with-snapdeal-to-offer-seller-finance-at-easier-rates/article7231241.ece

 

http://www.livemint.com/Industry/h5BgSO1PTdvTBkAx3vozMO/Amazon-enters-partnership-with-State-Bank-of-India.html

 

Flipkart SBI credit/debit card Coupons and offers

 

Flipkart is one of the best online shopping site in India. They frequently partner with one or more banks to offer Various credit card offers to the users. This time Company has tied up with State Bank of India or more commonly known as SBI to offer attractive offers to the SBI credit card or debit card users. Visit the link below to avail the offers :

Flipkart SBI Offer

Using the above offer SBI card users can get additional 10% discount while shopping on Flipkart. They need to do a minimum shopping Rs 1000 in order to get the discount, maximum cashback that can be availed per card is Rs 2000. The Flipkart SBI offer is valid till 28th April 2015 and will expire after that. Users who avail the cash back offer during the promotional period will get the amount credited back to their accounts by 1st June 2015.

You are not required to use any Flipkart SBI coupons to avail the discount. All you need to do is visit the site and start shopping. Just remember while paying the amount use your SBI credit or debit card. The offer is not valid for SBI net banking users.

Flipkart Cashback on EMI for SBI
Flipkart is running a special Summer sale where they are offering 10% additional discount to users who make the payment using EMI option using their SBI credit or debit card. This special Flipkart SBI offer is valid only on purchases made via EMI option.
All state bank of India card holders will get a maximum discount of Rs 1,250 as cash back when they shop on the site for minimum amount of Rs 5,000 and make the payment using EMI option. The offer will expire on 10th May 2015 and user will get the cashback by 15 July 2015.

Terms and Conditions

1. Each credit/debit card will be considered as different and user can avail discount on more than 1 card. Maximum cashback per card is Rs 2,o00.
2. The offer is valid only if the payment is made through credit or debit card. It is Not valid for net banking users.
3. This discount is applicable on all products except Xiaomi Devices i.e Mi4i, Redmi Note etc.
If you are looking for Cash back offers for any other bank like HDFC Bank, Axis Bank, ICICI bank etc do check out our site we share credit card offers for almost all major Banks. We even share some exclusive info about deals or offers during special sales organized by various e-commerce sites.
http://creditcardcoupons.in/flipkart-sbi-creditdebit-card-coupons-and-offers/

SBI ties up with Snapdeal, PayPal-Business Standard

Manufacturers & traders on online retailers to get loans; payment solution portal to help with overseas donation for govt projects

 

With an eye on booming e-commerce, the State Bank of India on Thursday tied-up with two of the biggest online retail and payment solution companies, Snapdeal and PayPal respectively.

 

 On Wednesday, the bank had signed a memorandum of understanding (MoU) with e-commerce giant Amazon to develop a payment solution for customers and sellers.

 The partnership with PayPal will not only help in international trade but also facilitate overseas funding for the government ‘Clean Ganga’ and ‘Swachh Bharat’ programmes.

 The agreement with Snapdeal will allow State Bank of India (SBI) to roll out a capital assistance programme for sellers using the online retailer’s platform. If their products are on Snapdeal, manufacturers will get a collateral-free loan of Rs 1 crore; traders will get Rs 25 lakh. Women entrepreneurs will also get a concession of 0.25 per cent on interest rates for the loans.

 

 Arundhati Bhattacharya, chairman, SBI, said:  “The bank would offer interest rates between 11.35-13.35 per cent to SMEs under the scheme, and offer concession of 50-100 basis points on additional collateral, said Arundhati Bhattacharya, chairman, SBI.

 The strategy to tie-up with e-commerce sites also highlights the bank’s new strategy to keep in check the non-performing assets (NPA) in the SME sector by giving loans to sellers with good market access.

 

“This kind of arrangement helps in NPA management through better marketability of the products. We are using different platforms to give loans, catering to the SMEs which sell, which have the ability to produce quality products,” she said. 

 

 At the end of third quarter of FY15, SBI’s SME portfolio was close to Rs 170,000 crore. Snapdeal has nearly 150,000 traders in its platform. Snapdeal aims to have 1 million sellers on its platform in three years.

 

SBI will utilise Snapdeal’s data analytics to verify the credit worthiness of sellers.

“This capital assist program will ensure that small business get capital easily with an attractive interest, the more they will be able to borrow more they will sell,” said Kunal Bahl, founder of Snapdeal.

 

 Under the deal with PayPal, SBI debit cardholders can use PayPal when buying products from overseas websites, and gaining access to PayPal’s secure payment solutions. Also, PayPal and SBI will join hands to offer PayPal’s payments solutions to SBI’s MSME customers, who can reach PayPal’s 165 million active accounts globally.

 

“Through this partnership, we are also looking at the e-governance plans of the government, like the eVisa project for 145 countries. Also, there are expectations of many transactions for initiatives like clean Ganga and Swach Bharat mission. We are making a pitch for facilitating such transactions.” said B Sriram, managing director, SBI.

 

“It is expected that by 2025, the spending in emerging markets will reach $30 trillion. We see the partnership with SBI as a long term strategy,” said Vikram Narayan, managing director and country manager (India), PayPal.