Rs. 500, 1000 Notes Banned: Snapdeal Offers 10 Percent Instant Discount on All Card Transactions

In a bid to promote cashless transactions post Prime Minister Modi's announcement of demonetising Rs. 500 and Rs. 1,000 notes, Snapdeal is offering 10 percent 'Instant Discount' on all Credit and Debit cards on its Web and mobile sites, valid till November 10. The offer is available on most products, expect for a few smartphones.

Snapdeal has provided steps to avail the discount on its website. After selecting the mode of payment ie. Debit/ Credit Card in the 'Make Payment' section, the 10 percent discount offer will be displayed under 'Bank Offers'. Selecting the offer and hitting 'Apply' will effectively slash 10 percent off your product. However, Snapdeal mentions that the maximum discount applicable is Rs.500. So products worth more than Rs. 5,000 or more will receive a maximum of Rs. 500 off.

Apart from this, Snapdeal earlier announced new payment option called Wallet on Delivery. Through this, buyers will be able to make cashless purchases through Snapdeal-owned FreeCharge wallet.

Paytm, one of the most successful digital payment companies in India, is happily on board with the government's new announcement. The platform has seen over 400 percent growth in traffic since the announcement took place, the company said in an emailed statement on Wednesday. Following Snapdeal's 'Wallet on Delivery' service, Paytm also announced it was working on a similar service, called 'Paytm on Delivery'.

Since the new announcement, major e-commerce sites like Amazon have suspended 'Cash on Delivery (CoD)'. Flipkart and Snapdeal have limited CoD to items priced above Rs. 2,000.

Snapdeal's 10 percent 'Instant Discount' offer is valid only on Thursday. The offer is also valid on EMI purchases made through Debit or Credit cards.