What are credit reward points
While we strive to ensure the best prices for our customers. Often customers need more than prices. They need flexible payment terms, as cash is often a challenge.
Credit reward points is our way of saying thank you. We understand that each purchase is much more than a transaction. It is a testimony to an increasing level of trust between two organisations. Trust and flexibility go together.
Credit rewards helps you leverage this growing trust and optimise your cash utilisation. As you purchase on our platform you earn credit reward points, by enabling a flexible system to manage your cash outflow.
With each transaction you earn can earn up to 20% of invoiced value (excluding taxes and shipping) as credit points. These accumulated credit points can then be used to make credit purchases within the next 12 months.
For example if a customer makes an advanced purchase of INR 1,00,000, the customer will be eligible for credit points of up to 20% this 1,00,000 lakh in the next purchase i.e up to 20,000. The next purchase can either be on credit or on advance. If the customer chooses to make credit purchase , by utilising the accumulated credit points, INR 20,000 will be the credit the customer can avail and will need to pay this in 30 days. On the other hand if the customer choses to make another cash purchase, for example say 1,00,000. The customer will be eligible for up to 20% of this additional to the previously accumulated credit points. Thus, in the second case the customer will have up to 40,000 credit points, which he or she can avail in a future purchase.
You can chose between making a full credit payment or a partial credit payment
We expect that amount of credit that customer has availed is paid in full within 30 days from the date of invoice. On receiving the payment in time you will be eligible for further credit to the extent of available credit reward points.
If a customer is unable to pay within 30 days all accumulated credit points will be forfeited, and the counter will restart.
Why credit reward points
We understand that in your business the most important thing is cash, and there is a need to be flexible as suppliers. However, as for suppliers credit is always a point of contention. As a market place we need to bridge the trust deficit between suppliers and buyers.
Credit points help bridge that gap transparently, while helping customers maximise their cash utilisation and help suppliers minimise their receivables outstanding.