Now You Can Use Flipkart Money to Pay For Your Purchases

It’s raining digital wallets in India! With the success of online wallet providers like Paytm, Mobikwik and Freecharge, more and more players are making their foray into the world of mobile wallets. The success of these companies due to exciting cashbacks and discounts is really noteworthy. They are raking up millions of users by the day thereby increasing the competition.  The latest to jump on the bandwagon is our very own Flipkart.

Flipkart Money, the new mobile wallet launched by Flipkart, offers one more new method of payment to its users. This wallet is a semi-closed prepaid wallet( For more info on semi-closed wallets, read our previous post, here.) and can be used while making purchases on Flipkart.

Some essential points to note about the Flipkart Money wallet

1. It is launched on the Flipkart Android app for now.
2. Users can hold a balance of up to Rs.10,000. This is the maximum limit set at present.
3. Consumers can top up the wallet with a maximum amount of Rs.25,000 per month. This can be done via credit/debit cards and net banking.
4. Cash can be withdrawn from the wallet to cards or your own bank account.
5. At present, it can be used to pay only on Flipkart though the company is working out towards more options.

Flipkart’s benefits from Wallets

• The biggest reason why this online wallet was launched is due to the fact that 15% of its shipments end in returns.
• So if the payment option is COD, it takes up a lot of time and effort to make refunds. Hence, this wallet option will make it easier to give cash backs in a jiffy.
• Another reason for Flipkart to offer a wallet payment is because it can offer cashbacks instead of discounts thereby retaining the customers to its site. A smart business strategy already successfully implemented by Paytm!

Flipkart had earlier launched a closed wallet in 2011, but since such wallets allow purchase only on their own products and not third party merchants, it was restricted to WS Retail purchases. This latest semi-closed wallet can be used for all purchases on Flipkart, irrespective of the seller.

So this gives all the more reason to shop from Flipkart. They usually come up with a lot of exciting deals on many products which you can avail with the latest promo codes right here at Shoppirate.