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All 500 and 1,000 Rupee notes have been scrapped
Multiple ecommerce companies in India have been affected by the decision to scrap all 500 and 1,000 Rupee notes in the country. The surprise announcement to discontinue India’s two highest denominations of currency has led to companies such as Flipkart, Amazon, and BigBasket temporarily stopping some cash-on-delivery payment options. After the announcement, Flipkart and Amazon both removed the option for cash payment on orders over 1,000 Rupees. This is expected to have a negative impact on the Indian ecommerce market, as most retailers in the country rely on a large amount of their orders from customers in smaller towns being able to pay in cash. The change has also caused food delivery services to encourage the use of card payment. It is not known if the cash-on-delivery options will return to the ecommerce sites.
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