Fashion and lifestyle e-tailer Yebhi.com launches online wallet
Fashion and lifestyle e-tailer Yebhi.com, run by Big Shoe Bazaar India Pvt Ltd, has added an online wallet on its site. The wallet function enables customers to store funds for shopping on the portal, recharge mobile or DTH and the money can also be transferred back to users' account via National Electronic Funds Transfer(NEFT).
Recently, Yebhi.com had launched the mobile/DTH recharge feature on the site. Speaking to Techcircle at that time, Manmohan Aggarwal founder and CEO of Yebhi.com, had disclosed that more virtual products are on the cards for the e-shop.
"We have always focused on our customer requirements and believe in giving them maximum control of their funds, their purchases and their shopping experience. This new initiative is the first of its kind in the country where the customer has complete access to their funds and exceptional control over their shopping, returns and refunds," Aggarwal said in a statement.
Customers need to have a registered account on the portal. You can see a demo of the wallet here.
In July, 2012, Big Shoe Bazaar India Pvt Ltd had raised Rs 100 crore ($18 million) in Series C funding, led by Fidelity Growth Partners India and Qualcomm Ventures, the venture capital investment arm of Qualcomm Inc. Existing investors Nexus Venture Partners and Catamaran also participated in the round. Aggarwal had said then that the funds would be utilised to strengthen Big Shoe Bazaar's fulfilment centre, supply chain and logistics network.
Paytm, Infibeam and Flipkart are some of the few e-commerce players providing online wallet facility.
(Edited by Prem Udayabhanu)