Amazon, Flipkart to face trouble after RBI's order?
- IndiaGlitz, [Wednesday,July 25 2018]
When it comes to online purchases from sites, COD is a much chosen option. Almost more than half of the online purchases are paid by COD only, even in popular sites like Flipkart and Amazon. But guess what, RBI has stated in their official release that they don’t even approve of the payment process!
In a response to an RTI, the RBI has said “Aggregators/payment intermediaries like Amazon and Flipkart are not authorised under Section 8 of the PSS (Payments and Settlements Systems) Act, 2007.” Okay what was that? It doesn’t say anything specific about the Cash on Delivery system, you think? Exactly, companies are using this ambiguous statement to their advantage and continuing their COD.
Plus COD is a system that has been very welcome by the customers. Let’s hope the concerned authorities bring a firm and straight, specific law very soon. Until then, let’s keep buying online stuff with COD!