eCommerce major Snapdeal today said it has suspended accounts of 23 sellers, who were found to be indulging in irregular business practices.
Snapdeal, which introduced new processes in its recently upgraded seller app, said these were introduced to make seller management systems more efficient.
"Snapdeal has introduced new processes in its recently upgraded seller app to make its seller management systems more efficient. The refreshed seller interface backed by integrated analytics ensures concurrent screening for multiple financial transactions," Snapdeal said in a statement.
This process leads to an efficient settlement cycle enabling swift reconciliation of accounts and faster payouts to sellers, it added.
"The new processes have enabled Snapdeal to detect and suspend the accounts of 23 sellers, who were found to be indulging in irregular business practices," Snapdeal said.
The company, which has over 2.5 lakh sellers on board, said any disputes relating to financial and or product parameters will now get flagged sooner and per well-defined parameters, improving sellers and buyer experiences.
"Sellers are a crucial part of Snapdeal's ecosystem and we believe that our sellers play a critical role in creating a great experience for our customers. We are continuously working towards creating an enabling environment for these entrepreneurs," Snapdeal CFO Anup Vikal said.
Snapdeal is implementing data driven financial tools, which will help execute faster and accurate payments and reconciliation cycles, he added.
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