Yes Bank, one of the leading private sector banks, 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. 

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.

The bank said, "Given that internet banking penetration is only about 5%, Yes Bank realizes the significance of enabling an efficient COD model to enable e-commerce reach the consumers Tier-2 and Tier-3 cities in India and provide impetus to the e-commerce marketplace and its sellers. Yes Bank is also working on enabling electronic and digital payment solutions for consumers."

The COD model accounts for close to 60% of all e-commerce transactions and the COD transaction value is expected to reach about Rs 540 billion size by 2016.

Shares of the bank gained Rs 0.1, or 0.01%, to settle at Rs 770.15. The total volume of shares traded was 184,904 at the BSE (Tuesday).