Snapdeal shares initiatives launched at curbing fraudulent online transactions
Snapdeal shares initiatives launched at curbing fraudulent online transactions

One of India's largest online marketplaces, Snapdeal has shared that a range of initiatives launched at curbing fraudulent online transactions, are accruing massive cost savings for the company.

From checks on bogus/fake sellers to identifying fake user accounts, to deploying sophisticated algorithms that identify any suspicious trends, Snapdeal has consistently been working on enhancing security and transparency across the entire ecosystem. The initiatives have resulted in the company saving close to INR 3 crore per month.

The company has also adopted several means to cut down courier frauds, including open delivery, X-ray examination of packages at fulfillment centers and verification of returns as part of the quality control process.

Along with a more stringent last mile verification process, wherein the on-site certified engineers visit and fix customer's problem on spot, these timely interventions have drastically reduced Snapdeal’s rate of returns.

An official spokesperson from Snapdeal said, "Fraudulent transactions are a serious threat to the health of any e-commerce ecosystem. We are committed to staying one step ahead of fraudsters always, and delivering the most secure, frictionless and reliable e-commerce experience to our buyers and sellers alike. As the size of the marketplace increases, we will continue to prioritize building due checks and balances at each step of the transaction cycle."

 
Stay on top – Get the daily news from Indian Retailer in your inbox
Also Worth Reading