Ever thought of a new payment method which could take its place in the booming online shopping dimension of India? Partial Payments! Yes, this is what some customer behaviour analysts of FreeKaaMaal deduced during a long term interaction with hundreds of thousands of shoppers via comments, community, reviews and chat over a period of several months.

What is the Problem?

1. Suppose a user wish to buy a smartphone or an expensive watch but he is sceptical about it. The reason being the fact that both of the products are a bit expensive for online payment. There is a very rare possibility of the transaction being successful but the order not being placed. Although the chances are very rare but still their is a hitch.This potential customer may turn to offline shopping just to get himself out of the situation of confusion. In case of exclusivity, the shopper may wait for the product to come down to the offline store.

2. A user sometimes do not have the Cash in Hand (Rs.5,000 or Rs.10,000 for example) while the product is being delivered placed online though the COD model. This may eventually led to the cancellation of the order followed by a bit more wait for the product.

3. A user may not have that much amount of money in the debit card (credit card in being exempted from the point) therefore causing a delay till the user get’s the money in the bank account which could be paid via debit card/net banking etc.

4. For the areas of Uttar Pradesh, which suffers the lack of delivery of expensive items due to a rise in fraudulent activities, this method can be a boon for selected area.

The Solution Companies can adopt a 50x-50y or 60x-40y or 70x-30y or 80x-20y model of payment. x & y stands for prepaid & cash respectively.

1. For the products which are the least expensive ones can be provided with a full COD, full prepaid or a 50x-50y payment way.

2. For the products with a bit more price range can go with the 60x-40y way.

3. 80x-20y mode could be for the products which are expensive and have a high cancellation ratio.

Kindly Note : This post is a deduction based on the interactions and experiences of the shoppers.It is a mere authors perception and do not have any concrete data to support, but, hypothesis is the base of experimentation which may conclude in practicality

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