Friday, June 9, 2023

Meesho takes seller empowerment to the next level, launches SuperFastPay

Meesho, India’s only true e-commerce marketplace, introduced Meesho SuperFastPay, a new feature designed to support sellers by providing them quicker access to their payments. This new feature, enabled in partnership with Non-Banking Financial Company Protium, will be a game-changer as it ensures that sellers receive their payments one day after the order is picked up. Eligible sellers can now reap the benefits of their hard work and get paid faster than ever with Meesho SuperFast Pay.

Harsh Chaudhary, CXO, Monetisation at Meesho said, “Our seller community is at the heart of everything we do. We understand the challenges our sellers face in accessing formal credit, and we are committed to empowering them with the resources they need to make their businesses flourish. Meesho SuperFastPay is not just a matter of convenience, but a solution to reinvest in various initiatives such as building the inventory, expanding their product line and procure supplies with cash discounts, among others. With the launch of SuperFastPay, we endeavour to provide our sellers with quick payments ​which can accelerate their growth trajectory.”

Surat-based Jayesh Vaghasiya, who retails apparel on Meesho, added “Meesho SuperFastPay is amazing, with this feature I can grow my business! I am receiving my payments quickly and production has increased exponentially. I have a clothes manufacturing business and we are able to order raw materials much quicker while obtaining a discount on this.”

Padmanabhan Balasubramanian, Partner at Protium India said, “Meesho’s deep experience in digitizing small businesses was vital in developing a unique financing solution that addresses the cash flow challenges for MSMEs. We are excited for the opportunity to partner with Meesho to create a flexible, cost effective and digital-first initiative such as ‘Meesho SuperFastPay’ which will help sellers get paid faster than ever.”

Effective cash flow is crucial to the sustainability of small businesses. Meesho SuperFastPay will help MSMEs manage their working capital better, especially during peak sale seasons. It will also allow them to replenish their inventory faster, secure lucrative cash discounts from their suppliers, pay vendors on time and launch new catalogs without any delays. Available to all eligible sellers registered on Meesho at a nominal cost, SuperFastPay will provide them an opportunity to develop their credit history and qualify for other loan products that Meesho will be introducing soon. Sellers can check their eligibility for Meesho SuperFastPay under the ‘Payments’ tab on the seller panel.

Nearly 50% of Meesho’s 11 lakh sellers come from Tier 2+ regions and deep corners of the country like Pulwama in Kashmir, Una in Himachal Pradesh, Nagamangala in Karnataka, Jowai in Meghalaya and Mount Abu in Rajasthan. More than 6 lakh sellers have joined Meesho in the past year because of the company’s seller-friendly measures.

With no tiering or differentiation of sellers, Meesho is at the forefront of providing a level playing field for small businesses. The launch of SuperFast Pay is another example of Meesho’s continued commitment to supporting small businesses.

Recent Articles

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Stay on op - Ge the daily news in your inbox