Views from e-commerce startups on demonetisation of 1000 and 500 currency
Vivek Mathur, CEO at Giftease.com “I believe this is a major & very progressive step towards cleaning up the economy. Of course while it has much larger ramifications for the economy, it is also very significant for the ecommerce industry. In the immediate term, with over 50% of ecommerce transactions being COD, there will be an impact on volumes, as customers will conserve cash available with them. However, over the medium term I expect this will be positive, as many customers will acquire alternate payment methods like plastic or online wallets, or will overcome the psychological barrier to using these for payments – which will be very beneficial for the industry if COD declines”.