Is there any better payment options than CASH ON DELIVERY ?

[digantpatel]

Hi, few of my friends were looking for better options if payments for our customers. We noticed that almost 90% of our orders were COD , which results in less profitability and longer cash cycle. Also few of my friends were planning to launch their store but faced the issue of trust ability due to amount of frauds happening as we speak. Do you have any suggestions for solving these problems??

[varunbhingradia]

Yes, i also have same problem 

please someone provide me solution for it

[digantpatel]

i think this is one of biggest issues which hinders the growth of e- commerce community like us

[niharbhai]

So truuee. I had 84% orders in my previous financial year. I tried RazorPay but its dashboard integration is very uncharming. Also the return rates are extremely high in COD transactions. 

[agarwalhriday]

@varunbhingradia @niharbhai did you check CODfirm out? We have been helping over 100 Indian e-commerce businesses reduce COD RTOs and frauds. 

Let me know your thoughts. 

[oscprofessional]

Hi,

you can try for other payment options in shopify,

Refer these URL,

https://www.shopify.com/payments 

https://help.shopify.com/en/manual/sell-in-person/pos-classic/payment-methods 

https://www.shopify.in/retail/retail-payment-options 

[digantpatel]

yes, it is an option but that doesn’t solves COD issues as Indian consumer sentiment lacks trustability in pre-payment option because of high fraud rates in this segment. 

[agarwalhriday]

Hey @digantpatel ,

COD is definitely the most common methods of payments Indian customers choose. Not having COD as a payment method can seriously limit the number of orders a store receives. The problem of longer cash cycles can be resolved by evaluating which courier partners have the shortest payment cycles. 

About COD frauds, we at CODfirm have been helping over 100 Indian ecommerce merchants reduce their COD returns and frauds by validating customer's contact number with an OTP. 

Do check CODfirm out and let me know your thoughts.

[MarcoReleasit]

Hi digantpatel!

Unfortunately Cash on Delivery is a very popular payment method in some countries and there are customers that will not buy from your store unless you offer it as a payment option. In past years there have been so many scams on the internet that some customers, even if they have a credit card, will not buy from an unkown store without COD.

The suggestions I can give you from my experience are the following:

1. To reduce return rates in 2 of our stores in Italy we did setup a call center so that all orders were called before shipping to make sure the customer wanted to confirm the order. If you cannot do that another option would be to try an OTP verification app such as CODfirm or Order Verification via OTP or CODBot to confirm a customer phone number

2. To improve profitability of COD you should also consider charging your customers an additional fee or surcharge if they place an order with COD. We have made an app for this, you can check it out on the App Store here: https://apps.shopify.com/cash-on-delivery-fee

3. Unfortunately the Cash Cycle issue depends on the courier you are using for shipments. Here in Italy we were able to find a courier that would pay us every 7 days but other couriers might offer you payments every 2 weeks up to 1 month. As you grow your business you will be able to negotiate these values without your courier

Let me know if this helps or if you need more info about our app!

Best regards

Marco

[Afterparty]

I always ask to see the Physical card they used to purchase and/or I ask for a picture of a legal ID.

If they have the physical card they used to purchase then it is most likely they own it.  Using the ID in conjunction to prove the Card is theirs makes sure you aren't being scammed or fraud is occuring.

Since implementing this with my stripe account (old payment gateway) I basically stopped all fraud.