CoD in cash­less In­dia

Voice&Data - - ANALYSIS -

The re­cent move to ban the old Rs 500 and Rs 1000 notes has led to in­ter­est­ing and quick change in the field of e-com­merce, where Cash on De­liv­ery (CoD) till re­cent times has been a major mode of pay­ment.

Act­ing swiftly, FreeCharge and Snapdeal rolled out the “Wal­let on De­liv­ery” (WoD) within 24 hours of the cur­rency ban. In one week since launch, more than 100,000 Snapdeal de­liv­er­ies have been done us­ing FreeCharge’ Wal­let on De­liv­ery. This may well be the start of a new trend, which com­bines the “pay on de­liv­ery” ex­pec­ta­tion of some users and the “non-cash” pay­ments pref­er­ence of all e-com­merce companies.

On­line pay­ments plat­form, Ra­zor­pay, also un­veiled its eCOD prod­uct to help e-com­merce companies ac­cept pay­ments at the time of de­liv­ery us­ing pay­ment meth­ods other than cash. The prod­uct is aimed to re­place ‘Cash on De­liv­ery’ and pro­vide re­lief to on­line mer­chants im­pacted by the phas­ing out of Rs 500 and Rs 1,000 cur­rency notes.

With eCOD, Ra­zor­pay of­fered its mer­chants the op­tion of col­lect­ing pay­ments from their cus­tomers, at the time of de­liv­ery, via non-cash pay­ment modes like UPI or dig­i­tal wal­lets like OlaMoney, Mo­bik­wik, PayU­money and Freecharge. De­liv­ery per­son can also gen­er­ate an in­stant pay­ment link at the time of de­liv­ery that en­ables the cus­tomer to pay via credit/debit card or Net­bank­ing.

Ra­zor­pay has part­nered with Shad­ow­fax, one of the largest lo­gis­tics provider for local busi­nesses and var­i­ous on­line mer­chants like Li­cious and GoZefo to launch eCOD fea­ture.

Upon choos­ing eCOD as a pay­ment op­tion while shop­ping on­line, cus­tomers pay at the time of de­liv­ery ei­ther by UPI, dig­i­tal wal­lets or by re­quest­ing a pay­ment link. The pay­ment mech­a­nism, will gen­er­ate a PIN num­ber with­out in­ter­net con­nec­tiv­ity or wal­let lo­gin, that the cus­tomer re­ceives at the time of de­liv­ery, mak­ing the process as sim­ple as pay­ing cash.

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