(By Bhavya Arora & Nikhil Pahwa) Online commerce company Infibeam has launched buildabazaar.com, allowing online businesses to create their own e-commerce store. In the past, online commerce portals have tied up with large publishers, and had to pay them a fee - something on the lines of a traffic / user acquisition fee - for selling. What Infibeam has done is, created a standard format for sales. We've said before that there's a need for a plug-and-play payment gateway service, and Infibeam appears to have gone beyond that, and allowed creation of customized storefronts. Here's what you need to know about the service: - Low entry costs: the basic model is available for free for the first 6 months, and for around Rs 500 a month after that, for which you get an online space complete with a payment gateway. - Transaction fees: For every product of yours that is sold, you pay a transaction fee of 1% or 5% while the site pays you a commission of 1% or 2% for every Infibeam product that’s sold on your domain. - Payment cycle: Payment will be released in weekly cycles for products verified by customers post delivery. Seller Commission will be also be released in weekly cycles. Service Taxes will be extra. - Shipping: Infibeam takes care of its own shipping, while the storefront owner is responsible for shipping their own goods - Cash On Delivery: Not available in most cases, only for the storefronts who meet an unspecified eligibility…
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