Reportedly VSC, a new payment solution now available on the flipkart platform, will enable the e-commerce platform to deploy India’s first in-app device-based network authentication solution. Meanwhile this solution will eliminate the need for One Time Passwords (OTP) for transactions up to Rs. 2,000, while also ensuring a completely secure payment experience. Furthermore by enabling consumers to enjoy a hassle-free and safe payment process for transactions up to Rs. 2000, flipkart hopes to reduce the steps in the payment system and help consumers complete their purchase journey with ease, primarily in regions where internet connectivity and e-literacy are scarce. 

 

Perhaps with this, flipkart will offer consumers the benefits of faster checkout time, leading to more shopping carts getting fulfilled with ease. Apparently especially at a time when e-commerce is witnessing an ever-growing demand, leading to higher and larger transaction volumes, VSC’s built-in network authentication capabilities will reduce the chances of transaction failures. Furthermore commenting on this, Ranjith Boyanapalli, Head Fintech and Payments Group at flipkart, said, “OTP-based authentication is one of the biggest points of friction in online card transactions, wherein we have observed significant customer drop-offs. 

 

Moreover at flipkart, it is our constant endeavour to simplify and quicken the shopping experience for customers on our platform, to increase their comfort and convenience. Further significantly scaled constructs like flipkart Pay Later and Cardless Credit were introduced to help new to credit customers enjoy a shopping experience that is seamless and affordable, with the larger goal to onboard the next 200 million customers.

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