Meesho Launches Industry-first ‘Zero Penalty’ and ‘Seven Day Payments’ for Sellers
The '7 Day Payments' feature ensures sellers are paid faster, which in turn, helps them reinvest money back into their business. Being capital efficient is crucial to their continued growth and success
Meesho, India’s fastest-growing internet commerce company, has launched two new initiatives for its sellers, an industry-first ‘Zero Penalty’ and ‘7-Day Payments’. A first for e-commerce, the two features will be available for all sellers registered on Meesho, thus creating a level playing field for small and medium businesses to operate online.
Having helped more than 4 lakh sellers across the country digitise their businesses, the ‘Zero Penalty’ feature ensures sellers are not penalised for self or auto cancellation of orders. Meesho was the first to begin eliminating seller penalties and with the removal of penalties around cancellations, Meesho has become the first "Zero Penalty" platform for sellers in India. The company has built robust data backed models to ensure that user experience is protected while sellers’ pain points are resolved. With this initiative, the company aims to strengthen trust and transparency among its sellers.
The “7-Day Payments'' feature ensures sellers are paid faster, which in turn, helps them reinvest money back into their business. Being capital efficient is crucial to their continued growth and success.
Elaborating on the new features, Lakshminarayan Swaminathan, CXO, Supply Growth at Meesho, said, “We understand the challenges MSMEs face while moving from offline to an online business model. We are building a platform that enables high growth and profit margins for MSMEs. We were the first e-commerce company in the country to introduce 0% commission for sellers. Thereafter, we witnessed a 3X rise in the number of sellers on-boarded on our platform. With the new ‘Zero Penalty’ and ‘Seven-Day Payment’ initiatives, we are confident we will be able to further accelerate the trajectory of seller acquisitions and success on Meesho. Through these and more such seller friendly features, we aim to provide confidence to millions of small businesses across India to bring their business online and succeed on Meesho.”
Nearly 70% of all Meesho sellers hail from tier 2+ cities such as Hisar, Panipat and Tiruppur among others. On an average, sellers on Meesho have seen their business grow by 80% within two years.
In the past few years, Meesho has consistently introduced a slew of initiatives to ease the digitization process for sellers across the country. Meesho’s application is easy to understand and operate, helping sellers realise how digital transition is simple and efficient.