Ezetap's payment
solution aims to drive e-commerce in India
As e-commerce in India ramps up, the question
of how to have the masses pay for their goodies is something that has not just
been a thorny problem but also a potential windfall opportunity to anyone who
can crack it.
As this article explains, leading e-commerce
site Flipkart pioneered cash-on-delivery (COD)—one of the big drivers of e-commerce in India considering so few
people had credit or debit cards. COD comprises 50 to 80 percent of online
transactions here.
However,
as the piece goes on to reveal, COD has its own challenges, namely paying for
return courier service if the buyer sends something back (40 percent of all
transactions, apparently), working capital dilemmas (cash lying idle instead of
going towards instant settlement) and pilferage.
In other
words, e-commerce here has been begging for another more efficient system.
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