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You can now download a <keyword id="604216" type="UNKNOWN" weightage="60" keywordseo="mobile-phone-application">mobile phone application</keyword>, <keyword id="4919152" type="UNKNOWN" weightage="80" keywordseo="Payzapp">PayZapp</keyword> to make your online <keyword id="6515675" type="UNKNOWN" weightage="80" keywordseo="money-transfer">money transfer</keyword> much easier. The private lender, <keyword id="6357149" type="CITY" weightage="80" keywordseo="HDFC-bank">HDFC Bank</keyword> today launched the app that will revolutionize the way payments and purchases are done using mobile devices. 

	"Download this app (PayZapp, a payment solution) and pay with one click for all your spends, from mobile phone top-ups to instant money transfers, bill payments, groceries, movie tickets to even big-ticket purchases such as foreign holidays," PTI reported, quoting a statement by HDFC Bank. 
 <keyword id="2845432" type="UNKNOWN" weightage="80" keywordseo="SmartBuy">SmartBuy</keyword> will help drive the payment process through the PayZapp. The bank has tied up with <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword>, Cleartrip, Goibibo and Expedia for SmartBuy. Further, customers would be able to make money transfers, pay utility bills and recharge their mobile and Direct To Home (<keyword id="6411255" type="ORGANIZATION" weightage="80" keywordseo="DTH">DTH</keyword>) connections with just one click and a single PIN entry. 

	PayZapp does not require credit or debit card numbers and security codes to be entered for every purchase. There is no pre-paid card restriction on daily or monthly limits and no need to load money to pay, the bank said. 
 

	PayZapp is part of the bank's digital banking offering called 'GoDigital', which centres around the theme of "Bank aapki muthi mein". 
 

	"PayZapp is path-breaking. The customer will find that it is not only the #Powerofbanking which is in his muthi, but effectively the whole world," said Parag Rao, Business Head, Cards, Payment Products and Merchant Acquiring Services, in the statement.
 

	In 2014-15, 63% of all transactions at HDFC Bank are conducted through digital channels, it added. 

	 
	(Image: Indiatimes)

HDFC’s online payment App, PayZapp, makes payments a breeze

<ul><li>Providing <keyword id="19401829" type="General" weightage="20" keywordseo="free-lounge-access" source="Orion">free lounge access</keyword> at airports is costly for banks as they typically pay fees to airport lounge networks. </li><li>Credit card rewards are being rationalised with a view to improve margins and counter inflation. </li><li>Offering exclusive <keyword id="17792500" type="General" weightage="20" keywordseo="lounge-access" source="Orion">lounge access</keyword> to high spenders can significantly boost the perceived value of premium credit cards. </li></ul>All good things come to an end, so the saying goes. Going forward, you may not be able to have free access to <keyword id="1937199" type="General" weightage="20" keywordseo="airport-lounges" source="Orion">airport lounges</keyword> through your credit card as easily as present times. Credit cards come with a lot of rewards or benefits and that is something one definitely considers before choosing a credit card. One of the most popular rewards that premium credit cards offer is free lounge access at airports. Premium credit cards often come with a joining fee and have other added features. According to a 2022 report by Collinsons, a travel insurance firm, 87% of Indians expect airport lounge access as a benefit from a premium credit card. The number of times free access is allowed varies depending on the card and the joining fees, but for those who travel frequently, this makes sense. Such lounge access can be a good thing, when one has long layovers, plus there are food and beverages thrown in. However, free lounge access may soon be a thing of the past. You may be required to spend a certain amount on your credit card to avail the benefit. Also, accessing it might be slightly more tedious. Very recently HDFC Regalia credit cards made some changes to its lounge access program. Now, Regalia credit cardholders will need to spend a minimum of ₹1 lakh or more in a single quarter to qualify for lounge benefits. The process for availing these perks has also been modified. Once the spending threshold specified by the lender is met, cardholders must visit the Regalia SmartBuy page and the lounge benefits section on the bank's website. There you can generate a lounge access voucher which can then be redeemed. <cmsannotation type="cmsannotation" annotationid="Changing times for free lounge access with premium credit cards" comment="Subhead" text="Changing times for free lounge access with premium credit cards">Changing times for free lounge access with premium credit cards</cmsannotation> Banks periodically relook their rewards programme and tweak them in response to ongoing challenges as well as to make it more relevant to users. “Given the high-interest rate and high demand, credit card rewards are being rationalised with a view to improve margins and counter inflation. At the same time, banks are differentiating their offerings to stay relevant and adjusting benefits to align with their target customer base,” says Adhil Shetty, CEO, BankBazaar, a financial services marketplace. With the growing number of players in the premium credit card sector, banks may find it necessary to distinguish their services to remain in tune with customer preferences. This could entail adapting the benefits to cater to their intended clientele. In the immediate future, customers might witness alterations in the rewards linked to these cards, which could, temporarily, result in reduced offerings. In the near term, customers may see the associated rewards change and even reduce for a time. “But over time, when the economic sentiment changes, many of these rewards will either come back or be replaced by others. This is a cyclic process, and we’ll see the cycle change in a few quarters,” says Shetty. For now, we may see more banks giving you free lounge access only if you cross a minimum spending threshold. <cmsannotation type="cmsannotation" annotationid="Why free lounge access may be restricted to high-spending customers" comment="Subhead" text="Why free lounge access may be restricted to high-spending customers">Why free lounge access may be restricted to high-spending customers</cmsannotation> Banks or credit card companies often choose to limit access to airport lounges and reserve it for high-spending customers for various reasons. Providing free lounge access is costly for banks as they typically pay fees to airport lounge networks. By restricting this benefit to individuals who meet specific spending criteria, they can effectively manage costs and allocate resources more efficiently. Offering exclusive lounge access to high spenders can significantly boost the perceived value of premium credit cards. This incentivises customers to use these cards more frequently and retain their memberships, ultimately contributing to the card issuer's revenue. Additionally, practical considerations come into play, as airport lounges have limited capacity. Granting access to all cardholders, regardless of their spending habits, can lead to overcrowded lounges, compromising the quality of the experience. By prioritising high spenders, banks can help ensure a more comfortable and enjoyable lounge environment for all users.

The free airport lounge access with credit cards is set to get tougher

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<ul><li>The <keyword id="11336753" type="UNKNOWN" weightage="20" keywordseo="oneplus-nord-ce-5g-price-in-india">OnePlus Nord CE 5G price in India</keyword> could be aggressive to take on the competition.</li><li>OnePlus’ next smartphone will launch in India on June 10 alongside the U1S smart TV range.</li><li>Along with the price, <keyword id="11267520" type="UNKNOWN" weightage="20" keywordseo="oneplus-nord-ce-5g">OnePlus Nord CE 5G</keyword> specifications have also been leaked days ahead of the launch.</li></ul>The <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-2-release-date-specs-price-leaks/articleshow/82829154.cms">OnePlus Nord CE 5G</a> price in India has been leaked just a few days ahead of the smartphone’s launch in India. And if this leak is anything to go by, the Nord CE 5G will be the most affordable 5G smartphone from OnePlus in India. Earlier, OnePlus chief executive officer (CEO) Pete Lau had <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-2-release-date-specs-price-leaks/articleshow/82829154.cms">revealed</a> that the Nord CE 5G would be more affordable than the original <keyword id="9374259" type="UNKNOWN" weightage="20" keywordseo="oneplus-nord">OnePlus Nord</keyword> that was launched last year. The leaked prices are in line with Lau’s statement. <cmsannotation type="cmsannotation" annotationid="OnePlus Nord CE 5G price in India and launch date" comment="subhead" text="OnePlus Nord CE 5G price in India and launch date">OnePlus Nord CE 5G price in India and launch date</cmsannotation> The OnePlus Nord CE 5G price in India has been revealed courtesy of HDFC Bank, which usually offers discounts on OnePlus smartphones through its SmartBuy program. It was first spotted by <a href="https://www.leegotech.in/2021/06/oneplus-nord-ce-pricing-leaked-ahead-of.html?m=1">Leego Tech</a>. According to the leak, OnePlus’ next smartphone will start at a price of ₹22,999, which is ₹2,000 lower than the original Nord’s launch price. Interestingly, the name of the phone has now changed to Nord N1 on HDFC’s SmartBuy <a href="https://offers.smartbuy.hdfcbank.com/offer_details/17298">page</a>. The OnePlus Nord CE 5G is scheduled to launch in India on June 10 during the company’s Summer Launch event, alongside the new U1S range of smart TVs. <cmsannotation type="cmsannotation" annotationid="OnePlus Nord CE 5G specifications – what we know so far" comment="subhead" text="OnePlus Nord CE 5G specifications – what we know so far">OnePlus Nord CE 5G specifications – what we know so far</cmsannotation> Although we are still a week away from the launch of the Nord CE 5G, the full specifications of the phone have been <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-5g-mobile-phone-full-specifications-leaked-days-ahead-of-launch/articleshow/83195375.cms">leaked</a>. According to the leak, the Nord CE 5G will be powered by the Qualcomm Snapdragon 750G chipset, paired with 6GB or 8GB of RAM and up to 128GB of storage. It’s possible that OnePlus might launch a 256GB variant as well in the future. The Nord CE 5G is said to sport a 6.43-inch AMOLED display with 90Hz refresh rate, a punch hole notch on the top left and an in-display fingerprint sensor in the bottom half of the screen. Apart from this, the leak also states that the Nord CE 5G will be made of polycarbonate, which if done well, can be sturdy and decent looking too. Imaging duties are said to be handled by a triple camera setup on the back, with a 64MP primary camera, an 8MP wide-angle snapper and a 2MP depth sensor. On the front, the phone will have a 16MP selfie camera. The Nord CE 5G will be powered by a 4,500mAh battery, which is beefier than the one on the original Nord. It will support 30W fast charging as well. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-5g-mobile-launching-in-india-on-june-10/articleshow/83028101.cms">OnePlus Nord CE 5G launching in India on June 10 alongside the OnePlus TV U1S</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-2-release-date-specs-price-leaks/articleshow/82829154.cms">OnePlus Nord CE 5G release date, specifications and everything else we know so far</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-5g-mobile-phone-full-specifications-leaked-days-ahead-of-launch/articleshow/83195375.cms">OnePlus Nord CE 5G full specifications leaked days ahead of launch – heavily inspired by the original Nord</a>

OnePlus Nord CE 5G’s leaked price suggests it could be cheaper than the original Nord

<ul class="summary-list"><li>The Illinois SmartBuy program pays off up to $40,000 in <keyword id="35522" type="ORGANIZATION" weightage="60" keywordseo="student-loans">student loans</keyword> to help buyers buy a house.</li><li>The program also provides $5,000 to be used for a down payment or closing costs.</li><li>With house prices reaching record highs, the program may help increase home equity and affordability.</li></ul>If you live in Illinois and have outstanding student loans, the state could pay off some of your debt to help you buy a house. The SmartBuy program, offered by the Illinois <keyword id="35061" type="ORGANIZATION" weightage="60" keywordseo="housing">Housing</keyword> Development Authority, helps anyone who wants to buy a home in Illinois by paying off up to $40,000 in <keyword id="1737245" type="COMPANY" weightage="60" keywordseo="Student-Debt">student debt</keyword>, or a loan amount equal to 15% of the home purchase price. According to the <a href="https://www.chicagotribune.com/real-estate/ct-re-student-loan-home-purchase-ihda-smartbuy-20210405-qxqzzj2h6namrb3s4jfc6f2xy4-story.html">Chicago Tribune</a>, between the start of the program in December and early April, it has paid off an average of $24,100 in student debt for each buyer, and people from outside the state have even been inclined to move there to make use of the program."I'm getting a lot of interest," Chanon Slaughter, a vice president of mortgage lending at Guaranteed Rate, told the Tribune. "I am getting folks literally saying, 'I want to move back to Chicago for this program.'"Along with paying off student loans, the program also provides $5,000 that can be used for a down payment or closing costs.There are a few catches, though: A buyer's outstanding student debt must be paid in full at the time of the home purchase, and if the buyer chooses to sell the house within three years of the purchase, they must repay a portion of the student loan assistance. The other catch is that Illinois has allocated $25 million to the program, so it's only expected to help between 600 and 1,000 homebuyers.Here are the program's eligibility requirements, according to its <a href="https://www.ihdamortgage.org/smartbuy">website</a>:<ul><li>The buyer must have at least $1,000 in student loans;</li><li>The buyer's FICO "mid-score" must be 640 or higher;</li><li>The buyer's income must be under or at the limits for the county where the property is located, which can be found on the <a href="https://www.ihdamortgage.org/limits">IHDA mortgage website</a>; </li><li>And the assistance cannot be applied retroactively - the buyer must be buying a new primary residence.</li></ul>This program has the potential to tackle two simultaneous affordability crises - the $1.7 trillion pile of student debt and the skyrocketing price of the median house since the housing market reopened during the pandemic, exacerbated by a serious inventory shortage. It isn't the only experimental economic program being offered in Illinois, either. Evanston, a city in Illinois, approved spending on March 22 for a <a href="https://www.chicagotribune.com/suburbs/evanston/ct-evr-evanston-reparations-program-cb-20210324-cjxq5tvee5ff7eqs3gh65kldvq-htmlstory.html">$10 million reparations fund</a> that compensated Black residents through $25,000 housing grants.Insider <a href="https://www.businessinsider.com/why-is-lumber-so-expensive-homebuilding-real-estate-newbuild-inventory-2021-3">previously reported</a> that the average home sale price hit a record high March, and the spiking housing costs have concerned housing experts, like Redfin Chief Economist Daryl Fairweather, who said in a <a href="https://www.mansionglobal.com/articles/record-number-of-u-s-homes-selling-for-more-than-asking-price-225704?mod=hp_minor_pos23">statement</a> that they could be putting homeownership out of reach for too many Americans."That means a future in which most Americans will not have the opportunity to build wealth through home equity, which will worsen inequality in our society," Fairweather said.

Illinois could pay off up to $40,000 of your student loans to help you buy a house

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New Delhi, Apr () Walmart-owned Flipkart on Thursday announced a pilot with retail chain store Spencers to introduce hyperlocal deliveries of groceries and essentials in Hyderabad. Under the pilot, consumers will be able to order groceries and essentials starting this month from Spencers store on the Flipkart app, a statement said. The orders will be collected from a set of chosen sample stores across Hyderabad by Flipkart executives and delivered to the customer's doorstep in a timely and hygienic manner, it added. "This partnership will leverage synergies between the companies to help enable deliveries of essential products to consumers and thereby, promote social distancing in the backdrop of the COVID-19 outbreak in the country," the statement said. Flipkart Group CEO Kalyan Krishnamurthy said the company is committed to ensuring fulfilling customers' needs amidst the lockdown to promote 'social distancing'. "...we are initiating various steps in this regard. We are pleased to launch this pilot with Spencers Retail to collaborate and meet the needs of consumers who are contributing to the fight against COVID-19 by staying at home. "We've built a robust tech-backed platform to offer consumers real-time insights of essentials available in their area and will ensure timely doorstep deliveries," he added. After the government imposed a 21-day lockdown on March 24, many people have turned to e-commerce platforms to place orders for essential goods, including food and grocery, to stay away from crowds and to practice social distancing. Many large retail outlets have also been forced to allow less number of people to be present inside store premises to ensure there is adequate distance between them. "In such times, building an ecosystem of partnerships will transition us to truly become an omni-channel business in serving consumers," Spencers Retail MD and CEO Devendra Chawla said. "In this tough environment, Spencers' partnership with Flipkart provides another platform to a larger set of consumers to seamlessly access our range of essentials who may want to use other reputed platforms/marketplaces apart from our own Spencers App to buy during the lockdown," he added. In a separate statement, Flipkart said it has introduced medically-certified hand sanitizers and surgical masks under its private brand -- Flipkart SmartBuy's Health+ range. Utilising its existing infrastructure, the company aims to provide access to these locally manufactured essentials in light of the increasing demand by consumers amidst the COVID-19 pandemic. "Flipkart SmartBuy Health+ hand sanitizer will be made available in line within the government pricing directive of Rs 250 for 500 ml. "These sanitizers adhere to FDA approved formulation with alcohol content as per the WHO recommendation," the statement said. It added that surgical masks (3 ply meltblown face masks) will also be available in different packs priced between Rs 240 to Rs 575. SR RVK

COVID-19: Flipkart partners Spencers for hyperlocal deliveries in Hyderabad

<ul><li>Walmart-owned <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> has moved half of its manufacturing and sourcing from China to India. </li><li>The move comes in to put a renewed focus on its private labels. </li><li>These private in-house labels had accounted for 13% of Flipkart’s GMV in 2018.</li></ul>Walmart-owned Flipkart has moved its manufacturing and sourcing from China to India, with increased focus on homegrown labels, as per <a href="https://www.businesstoday.in/current/corporate/flipkart-moves-manufacturing-for-private-labels-to-india-from-china-malaysia/story/354983.html">reports</a>. Flipkart, which has over the years, built private labels like MarQ, Perfect Homes, Billion and Smart-Buy, is looking to source accessories for its labels, from the country itself. “About two years back, almost 100% of our electronics came from China. Today, that number would be less than 50%. When we launched our furniture brand, the entire range was sourced from Malaysia – now that’s down to less than 50%,” Adarsh Menon, head of private label business at Flipkart, told ET. <a href="https://www.cnbctv18.com/retail/flipkart-approaching-electronic-brands-to-boost-private-label-business-says-report-3334891.htm">Flipkart</a> was has been in talks with Sansui, Nokia, Motorola, amongst others to build a private label business in electronics segment. In May, Flipkart <a href="https://www.business-standard.com/article/companies/flipkart-puts-focus-back-on-private-labels-launches-in-house-sports-brand-119053000338_1.html">launched</a> an in-house sports brand called Adrenex. The brand has over 200 products ranging from sports accessories like cricket or tennis balls to gym equipment. These private labels also been raking in revenue for the company. According to <a href="https://tech.economictimes.indiatimes.com/news/internet/non-fashion-private-labels-account-for-13-of-flipkarts-gmv/67187116">reports</a>, six non-fashion private label brands from Flipkart account for 13% of its Gross Merchandise Volume. In 2018, the number of customers who opted for private labels also grew 17-fold, as per the report.

Flipkart has cut down on made-in-China products, to focus on private labels

If you are happy buying your favourite products on <keyword id="2508995" type="UNKNOWN" weightage="20" keywordseo="Flipkart-and-Amazon">Flipkart and Amazon</keyword> – that’s the reason of headache for smaller ecommerce companies. In a written complaint to the <keyword id="97393" type="ORGANIZATION" weightage="20" keywordseo="Competition-Commission-of-India">Competition Commission of India</keyword>, a group on online sellers have alleged that <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>'s WS Retail and <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>'s <keyword id="2682122" type="UNKNOWN" weightage="20" keywordseo="Cloudtail">Cloudtail</keyword> are offering heavy discounts when selling private label products. This in turn is damaging their business. 
 
These vendors have alleged that WS Retail and Cloudtail offer phones, gadgets and appliances at ‘rock-bottom prices’. 
 The retailers of private labels AmazonBasics and Flipkart SmartBuy have been tendered special benefits that haven't been disclosed publicly, the All India Online Vendors' Association, a group of 2,000 sellers on various online platforms, contended in a letter to the <keyword id="47183" type="ORGANIZATION" weightage="20" keywordseo="CCI">CCI</keyword>. The letter dated March 2, 2017, was reviewed by <keyword id="77091" type="COMPANY" weightage="20" keywordseo="The-Economic-Times">The Economic Times</keyword>. 
 "Flipkart has always conducted its business with transparency, integrity and in full compliance of all applicable laws,” a company spokesperson told The <keyword id="6474066" type="COMPANY" weightage="20" keywordseo="economic-times">Economic Times</keyword>. "Our private label, Smart-Buy, has enjoyed rapid success primarily due to the superior quality of products. We've shared the success of the brand and empowered sellers by licensing it to them but only after they meet our rigorous quality checks. The popularity of SmartBuy and the increased business has led to tremendous gains for sellers.” 
 
When Indian start ups are complaining against predatory pricing of foreign players, it’s ironic to see, the same ecommerce company indulging in predatory pricing and destroying the ecommerce ecosystem of the country.

Smaller e-commerce companies angry with Amazon and Flipkart’s heavy
discounts

<ul><li><keyword id="7948588" type="UNKNOWN" weightage="20" keywordseo="OnePlus-7T-Pro">OnePlus 7T Pro</keyword> is scheduled to launch in India on October 10. </li><li>Amazon India already has a launch page for the smartphone where users can register for updates. </li><li>The phone will launch simultaneously in India and in the UK. </li></ul>Hot on the heels of last week’s <a href="https://www.businessinsider.in/tech/news/for-a-jaded-tech-reviewer-who-plays-with-the-latest-and-greatest-smartphones-every-year-the-oneplus-7t-shouldnt-feel-that-special-but-it-does/amp_articleshow/71456572.cms">OnePlus 7T</a> launch, the Chinese smartphone maker is already teasing the launch of its second variant — the One Plus 7T Pro. According to a tweet by OnePlus India, the phone will launch on October 10 and be available to purchase on Amazon. <div type="twitter" handle="OnePlus_IN" handlename="OnePlus India" image="http://pbs.twimg.com/profile_images/1173553601987235840/M1Ah6s-E_normal.jpg" favoritecount="1588" retweetcount="86" status="Thought we were done? Oh we're just getting started. Watch out for something special | Oct 10 🤩 Get notified on… https://t.co/aTP8F52ov1" createdat="1570255892000" id="1180364882866130944"></div>

 Amazon’s <a href="https://www.amazon.in/b/ref=as_li_ss_tl?node=18199392031">launch page</a> has a ‘Notify Me’ button where users can register for notifications about the event and when the phone goes on sale. OnePlus is also scheduled to hold an event in London on October 10 where it is expected that the company will unveil its new OnePlus 7T Pro. An earlier HDFC SmartBuy <a href="https://in.pcmag.com/mobile/133069/oneplus-7t-pro-india-launch-set-for-mid-october-hdfc-offer-suggests-so">listing</a> mentioned that the OnePlus 7T Pro will be available in India from October 10. The listing also mentioned that HDFC customers will have the option to avail a ₹3,000 instant discount until 4 January 2020. OnePlus 7T Pro expected specifications The OnePlus 7T Pro will be powered by Qualcomm’s latest chipset, the Snapdragon 855, which is coupled with the Adreno 640 GPU. It’s expected that the phone will have a massive 10 GB RAM and 256 GB of internal storage. The OnePlus 7T Pro will reportedly run on Android 10 out of the box with OxygenOS on layered top. It is also expected to feature a 6.67-inch Quad HD 90Hz Fluid AMOLED display with an in-display fingerprint scanner. Leaks and rumours suggest that the OnePlus 7T Pro will feature a triple camera setup in the back — a 48-megapixel primary sensor, a 16-megapixel ultra-wide sensor and an 8-megapixel telephoto sensor. The device is expected to be powered by a bigger 4,085mAh battery with Warp Charge 3T support. The OnePlus 7T Pro is scheduled to launch in India on 10 October at 8:30 PM. At the same time, the device will also be launched at the Magazine London Theater in London. See also: <a href="https://www.businessinsider.in/tech/news/for-a-jaded-tech-reviewer-who-plays-with-the-latest-and-greatest-smartphones-every-year-the-oneplus-7t-shouldnt-feel-that-special-but-it-does/amp_articleshow/71456572.cms">For a jaded tech reviewer who plays with the latest and greatest smartphones every year, the OnePlus 7T shouldn't feel that special - but it does</a>

OnePlus 7T Pro will be the second launch from the smartphone maker in 15 days

<ul><li>After issuing its new e-commerce policy in December, the Indian government is walking back on its words.</li><li>Online retailers — <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> and <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> — will still be able to sell their own private brands on the e-commerce platforms. </li><li>This should come as a relief since their plans going forward reportedly heaving depended on their own private labels including the Alexa powered Amazon Echo devices. </li><li>The new clarification has come under attack citing that the industrial governing body is just ‘losing guts’ in backtracking from its original stance. </li></ul>Amazon and Flipkart teamed up to <a href="https://www.businessinsider.in/indias-new-e-commerce-policy-has-rivals-flipkart-and-amazon-teaming-up-to-counter-the-new-directive-and-the-republic-day-sale-will-probably-be-their-last/articleshow/67366996.cms">aggressively</a> voice their concerns against the <a href="https://www.businessinsider.in/the-indian-government-just-dealt-a-serious-surprise-to-amazon-and-flipkart-heres-what-that-means-for-online-shoppers/articleshow/67272151.cms">new e-commerce policy</a> that the Indian government rolled out on December 26. Their efforts seem to have paid off with the India government <a href="https://www.business-standard.com/article/economy-policy/govt-does-u-turn-in-policy-says-e-commerce-firms-can-sell-private-labels-119010301114_1.html">flip-flopping</a> to say that the brands can still sell products by associated private labels. This means that products like the Amazon Echo and the Kindle as well as Flipkart items from MarQ, SmartBuy and Perfect Homes will still be available online. Both e-commerce giants had plans to <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/flipkart-lines-up-private-labels-before-big-day/articleshow/65715180.cms">increase focus</a> on their private labels, which offer higher margins and contribute towards the company's’ gross sales. Consumers also reportedly prefer the private labels since the products are 20-30% cheaper than other branded products according to Adarsh Menon, the head of private labels at Flipkart. Amazon, following Flipkart’s playbook, also <a href="https://www.livemint.com/Companies/K6AOABYmYOWnrmr03KQBZJ/Amazon-India-looks-to-expand-private-label-biz.html">has plans</a> of scaling up its operations to include private labels that cover new categories. Between 2017 and 2018, it <a href="https://www.livemint.com/Companies/O8Wc537U13T2iREYW1jYfM/Amazon-trebles-choice-of-offerings-under-private-labels.html">more than doubled</a> the number of products under its private labels from 15,000 to 43,000. The Indian government taking back its own words The original policy stated that e-commerce marketplace entities could not sell products by private labels where it could control the inventory or where it had a stake in it the associated company. ‘Clarifying’ the implication of that, the Department of Industrial Policy and Promotion (DIPP) issued another statement on Thursday. 
 <div type="ExtQuote" text="“Concerns have been raised that press note 2 (2018) prohibits sale of private label products through the marketplace. It is clarified that the present policy does not impose any restriction on the nature of products which can be sold on the marketplace.”" auname="DIPP"></div>



 While the government has refused to comment to why they took a complete u-turn from what was clearly stated in the original policy, they assert that this is their final legal stand. The domestic trade body, Confederation of All India Traders (CAIT), is particularly ashen. Their National Secretary General Praveen Khandelwal stated, “The new clarification note is a simple stupid confusion or losing guts and backtracking.” See also: <a href="https://www.businessinsider.in/the-indian-government-just-dealt-a-serious-surprise-to-amazon-and-flipkart-heres-what-that-means-for-online-shoppers/articleshow/67272151.cms">The Indian government just dealt a serious surprise to Amazon and Flipkart — Here’s what that means for online shoppers</a> <a href="https://www.businessinsider.in/indias-new-e-commerce-policy-has-rivals-flipkart-and-amazon-teaming-up-to-counter-the-new-directive-and-the-republic-day-sale-will-probably-be-their-last/articleshow/67366996.cms">India’s new e-commerce policy has rivals Flipkart and Amazon teaming up to counter the new directive — and the ‘Republic Day’ sale will probably be their last</a> <a href="https://www.businessinsider.in/amazon-walmart-seek-us-help-against-indias-new-draft-e-commerce-policy/articleshow/65228547.cms">Amazon, Walmart seek US help against India’s new draft E-commerce Policy</a>

Amazon and Flipkart are off the hook — You’ll still be able to buy the Amazon Echo and MarQ products online

<ul><li><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> has received an infusion of nearly $500 million from a holding company in Singapore ahead of its <keyword id="3092441" type="PERSON" weightage="20" keywordseo="Big-Billion-Days">Big Billion Days</keyword> (BBD) sale in the second week of October. </li><li>This is apart from the $2 billion capital injection announced by Walmart when it purchased a 77% stake in Flipkart earlier this year. </li><li>Flipkart will focus on discounts for mobile phones, a category it currently dominates. It reportedly plans to account for 50% of all online phone sales in the month leading up to <keyword id="188" type="ENTERTAINMENT" weightage="20" keywordseo="Diwali">Diwali</keyword> in early November.</li></ul> India’s homegrown e-commerce giant is all prepared to defend its turf this festive season. Flipkart’s online retail platform, Flipkart Internet, has received an infusion of nearly $500 million (₹35 billion) from a holding company in Singapore ahead of its Big Billion Days (BBD) sale in the second week of October. When Walmart purchased a 77% stake in Flipkart for $16 billion earlier this year, it said that the deal would include an equity infusion of $2 billion. This $500 million investment seems to be the first tranche of that capital injection, which is aimed at boosting Flipkart’s many businesses in order to fend off inroads from <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> India and retain its market leadership in the e-commerce space. Amazon, meanwhile, has invested $2 billion in its Seller Services unit alone in 2017-18 and the current year so far. With regards to the upcoming festive season, Flipkart will use the cash infusion for a number of things. Offering deeper discounts for one, is a huge priority. Flipkart will focus on discounts for sales of mobile phones, a category it currently dominates. With the launch of 20 new models and a buyback guarantee scheme, it reportedly plans to account for 50% of all online phone sales in the month leading up to Diwali in early November. In addition, Flipkart will likely allocate a portion of the investment to logistics operations to ensure quicker delivery of goods. It is also planning a big push for the in-house labels on its retail platform like electronics brand SmartBuy and furniture label Perfect Homes. With roughly $1.5 billion worth of sales from its five-day long BBD programme in 2017, Flipkart was able to beat Amazon. However, the feat might be tougher to pull off this year. Amazon India is coming in guns ablaze. It just opened <a href="https://www.thehindubusinessline.com/news/amazon-opens-largest-fulfilment-centre-in-karnataka/article24980103.ece">a huge order fulfillment centre </a>in the state of Karnataka, its largest in the country, and held a national conference for its sellers this week in preparation for its Great Indian Sale. It recently launched <a href="https://www.livemint.com/Companies/j1WDvhVsx239I654qD1ssM/Amazon-India-unveils-Hindi-website-app-to-take-on-Flipkart.html">a Hindi version </a>of its retail platform to effectively target Tier III towns and villages and has also <a href="https://economictimes.indiatimes.com/small-biz/sme-sector/early-festival-for-amazon-sellers-as-fees-and-storage-charges-cut/articleshow/65836402.cms">cut seller fees</a> in a number of product categories such as clothing and electronics.

Flipkart has a $500 million war chest for this holiday season

If you are an HDFC customer, the bank is giving you more reasons to stick to it. Now the bank will be playing a double role of not only keeping your money safe but will also turn into a shopping mart, selling grocery, clothes, shoes and other products on its website. 
 The bank will also get best deals from eCommerce sites like <keyword id="541988" type="COMPANY" weightage="80" keywordseo="SnapDeal">Snapdeal</keyword>, <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> and <keyword id="18635" type="CITY" weightage="80" keywordseo="Amazon">Amazon</keyword> on its website. 
 
Keeping the fast-paced growth in eCommerce, a senior HDFC executive said it was a timely move by India's second largest private sector lender. 
 "We are a large retail and payment bank...about 30-40% of customer spends on eCommerce happens through our credit and debit cards," Parag Rao, senior executive Vice-President and business head (card payment products and merchant acquiring services) at <keyword id="6357149" type="CITY" weightage="80" keywordseo="HDFC-bank">HDFC Bank</keyword> told Economic Times. 
 
Rao informed that the bank would not sell products directly as it is against the rules. "We have tied up with partners in travel, bill payment, grocery, hotel and shopping who have their sites anyway," he told ET. 
 
Based on the customer feedback since past one year, HDFC has been working to launch SmartBuy, which will provide a platform to its customers to get better discounts and facilities at one place. 
 As per a PwC India report, <keyword id="35621" type="UNKNOWN" weightage="80" keywordseo="e-commerce">e-Commerce</keyword> spends grew at a compounded annual growth rate of 34% between 2009 and 2014 to touch $16.4 billion, adding the sector is expected to expand to $22 billion by the end of this year. 
 Meanwhile, taking note of the increasing importance of eCommerce companies, the Reserve <keyword id="6355303" type="CITY" weightage="60" keywordseo="Bank-of-India">Bank of India</keyword> (RBI) had asked banks to form joint ventures with them or appoint them as business correspondents. 
 
The RBI’s move to licence niche payment banks has also led to increased focus among banks on digital banking. 
 
"The increase in e-tailing is something that doesn't matter to banks. They want these transactions to be executed through their website so that they get the fee income," Ashvin Parekh, managing partner, Ashvin Parekh Advisory Services told ET, adding “they are just gearing up for payments banks.” 
 Banks like <keyword id="6653" type="CITY" weightage="60" keywordseo="ICICI-bank">ICICI Bank</keyword>, HDFC Bank and Axis Bank want to ensure their transactions are not routed to any third-party website, for if a payment bank comes and these are routed to its website these banks may lose customers," said Parekh. 
 
HDFC’s major profits come from fee income. Its other income, which includes fees and commission from offer of banking services, grew 29.9% to Rs 2,563.8 crore in the quarter to March, which led to a 20% growth in its net profit. 
 
"HDFC Bank is the largest acquirer (of customers) in the country and it cannot leave the acquisition space. Banks are just trying to pre-empt products that the payment banks would come up with," said Parekh. 
 
Aditya Puri, the Managing Director and Chief Executive Officer of HDFC Bank, has been pushing the digital initiative since December 2014, replicating the best practices of some of the global banks such as US-based Wells Fargo and Poland's mBank. 
 
(Image: Reuters)

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