Over the last one year, we’ve been extensively talking about how cash on delivery (COD) is a major problem for eCommerce businesses in India. We’ve delved deep into why this problem exists and also concluded that it’s a phenomenon that will continue to exist in the coming years as well. Indian eCommerce brands need to learn to live with this harsh truth. But, at the same time, the psychology of Indian shoppers is very interesting. When given discounts, many sceptic shoppers - not ready to make digital payments - would take the gamble and save those extra bucks. Leveraging on this psychology, GoKwik brings forth “Cash to Prepaid by GoKwik.” A smart solution that not only helps convert COD orders into prepaid conversions beyond the checkout funnel but reduces the risk of COD-led return-to-origins (RTOs).
GoKwik's Cash to Prepaid (C2P) is a groundbreaking solution designed to convert already placed COD orders into prepaid conversions seamlessly.
This masterclass solution puts both brands and customers in a win-win situation. While shoppers get to avail additional discounts on their purchase, merchants on the other hand, get the leverage of
Once a shopper places a cash-on-delivery-led (COD-led) order on Heelim’s website, they’re redirected to the Thank You page
On the Thank You page. They’re shown "Pay Now & Save X" option
“X” could be a percentage of discount or a flat fee off
In Heelim’s case, it offers a flat INR 50/- off to shoppers who convert COD order to prepaid conversions
Here, shoppers can prepay using various UPI options available or via a payment link
After a successful payment, a follow-up message is sent to the user confirming the transaction
The psychology of availing extra rebate on their overall purchase amount
The sense of urgency that the timer present on the page generates. For if the shopper misses making the payment within 3 minutes (as in the case of Heelim), they’ll miss out on the extra discount they could have grabbed.
The original "COD" order as cancelled
The new prepaid order marked as "C2P"
GoKwik's Cash to Prepaid conversion feature is a game-changer for merchants looking to reduce the risks associated with cash orders and enhance the efficiency of their operations. By incentivising shoppers to choose prepaid transactions, C2P not only benefits merchants but also provides a seamless and rewarding experience for users. As eCommerce continues to evolve, innovative solutions like Cash to Prepaid pave the way for a more secure and efficient payment ecosystem.