Unique service to be facilitated by swiping debit cards on PoS Machines on Delivery
Gurgaon, December 13, 2016: Grofers, the on-demand e-commerce mobile and web application, is opening up a new avenue for people to get cash delivered at home, by partnering with YES BANK, India’s fifth largest private bank. With this partnership, Grofers customers will be able to get currency notes delivered to their doorstep along with their grocery order for up to Rs. 2,000 through YES BANK PoS Machines.
YES BANK has partnered Grofers for supplying cash across 3 cities - Mumbai, Gurgaon and Bengaluru. Grofers customers in these cities will have an option to get home delivery of cash, along with their grocery order.
The delivery of cash-at-home will be a simple process. Grofers customers, while ordering for groceries, can place a request for delivery of cash via a special code. Grofers delivery executives will be carrying a PoS machine powered by YES BANK, which can be used to swipe customers’ debit cards for seamless delivery of cash.
This unique service is being provided by Grofers and YES BANK to further bring ease and convenience into the lives of its customers. This service will initially be available for Grofers customers in Mumbai, Gurgaon and Bengaluru. The company will be adding other cities soon.
“Grofers is excited to partner with YES BANK for delivering cash to our customers. While we are delivering daily essentials such as groceries and fruits & vegetables without cash; we cannot totally eliminate the need of currency notes as people sometimes require them for other reasons. This is our humble attempt to help our customers. Grofers delivery executives will carry PoS machines where customers can swipe and get cash within the comfort of their homes,” said Ashneer Grover, Chief Financial Officer, Grofers.
Asit Oberoi, Group President, Transaction Banking Group, YES BANK said “YES BANK has consistently focused on providing a superior, technology-driven banking experience to its customers. We are happy to partner with Grofers in an endeavor to enable greater convenience of transactions, payments by card on delivery and also to bring cash to customers at the same time, by providing seamless withdrawal facilities using YES BANK PoS machines.”
Lately, Grofers has been in the news for a rapid growth of 40% in its order volume post demonetization. The app has become a preferred medium for people to buy groceries and fruits & vegetables online, without the need of cash. GMV of fruits & vegetables on Grofers has grown by over 50% in the last one month since demonetization. The delivery business sources its fruits & vegetables directly from farmers and provides its customers with the best market rates.
YES BANK remains fully committed to help realize the Government’s initiative to propel digital payments in India and move towards a ‘less-cash’ economy. Earlier, YES BANK had announced waiver of MDR charges (Merchant Discount Rate) for all Debit Card transactions across RuPay, MasterCard and Visa platforms at all its Merchant locations, including online transactions up to 30th December ’16. MDR is the fee charged to the merchant by the Bank for providing card acceptance services. The waiver of MDR will facilitate greater acceptance of Debit Cards by the Merchants thereby resulting in greater use of cards by customers as their preferred payment method.
Grofers is a mobile and web application that allows consumers to order products online across categories like groceries, fruits & vegetables, beauty & wellness, baby care, electronics & appliances, bakery, meats & seafood, pet care, flowers and home & office needs and get them delivered to their doorstep within a few hours. The mobile applications for both iOS and Android platforms can be downloaded at grofers.com/download. The delivery service is operational in 18 cities: Agra, Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi NCR, Hyderabad, Indore, Jaipur, Kanpur, Kolkata, Lucknow, Ludhiana, Nagpur, Mumbai, Pune, Surat and Vadodara.
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About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 29 states and 7 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
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YES BANK Limited
Ph.: +91 11 66569073
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