<div><strong>By Arshad Khan</strong></div><div> </div><div>Yes Bank — India's fifth-largest private sector bank — has partnered with Blue Dart and Snapdeal to enhance the 'Cash on Delivery' (COD) model by making strategic interventions in the financial supply chains of these companies. </div><div> </div><div>This partnership is under Yes Transact — Yes Bank's award winning transaction banking product suite and reinforces the bank's philosophy of providing insightful knowledge banking solutions to the sunrise sectors of India's economy.</div><div> </div><div>The integration would enable Snapdeal to receive COD proceeds from Blue Dart in a faster, streamlined fashion and also help with faster payments to suppliers. For Yes Bank, it will help them enhance their financial supply chain management.<br> </div><div>"We are proud to partner with Blue Dart and Snapdeal who are leading the ongoing revolution in India's e-commerce space for this pioneering solution. The cash on delivery model is very important in the Indian e-commerce industry, and we are certain that our Yes Transact solution will bring in enhanced efficiencies offering significant value to the companies in managing their supply chain," said Asit Oberoi, group president & chief operating officer, Yes Bank. </div><div><br>The COD model accounts for close to 60 per cent of all e-commerce transactions and the transaction value is expected to reach about Rs 54,000 crore size by 2016. </div><div> </div><div>"The dominant mode of payment for a large portion of online customers continues to be cash on delivery, this in effect adds time to the payment cycles for sellers. With this partnership we are confident that we can improve payments cycles and help our sellers become more successful," said Amit Choudhary, senior vice president, corporate finance, Snapdeal.</div><div> </div><div>Yes Bank reports that efficient COD model to enable e-commerce reach the consumers Tier-2 and Tier-3 cities in India. The bank also reported that it is also working on enabling electronic and digital payment solutions for consumers.</div><div><br>Yes Bank will act as a collection banker to Blue Dart for its cash handling and also a technical integration through which data is processed electronically and payments are released to the market place basis the same.</div>
