Surpluss.in, the online retailer selling overstock and branded surplus products, has come up with an innovative new payment method for its customers.
Now, customers can pay an advance token money for their purchases through either their debit or credit cards and rest of the amount can be paid later at the time delivery (COD). Through this innovative method, a customer can make an online purchase through Surpluss.in and the total amount can be broken down into easy-to-pay value.
“By allowing our customers to pay an advance through online payment will not only enable us to provide a solution to the diverse needs of our customers but will also help our customers to stand firm on their buying decisions,” said Saurabh Rai, CEO, Surpluss.in.
“Going by the buyer’s behaviour, customers base their buying decisions on both rational and emotional reasons. It has been gauged that youngsters sometimes make impulsive purchases and return it without any fret. And, then COD orders are leading to high returns. This burns a hole in a seller’s, logistic company’s and marketplace’s pocket. So as to overcome this problem, we have come up with this new payment method. Let’s talk of out hot selling high ASP brands like apple mobile phones or our range of LED televisions our analytics gives us reasons to believe that serious customers would opt for this low risk convenience option than paying 100% upfront”, he added.
There is no doubt that Cash on delivery is the most preferred payment method, accumulating 75 per cent of the e-retail activities. However, COD may harm eCommerce business in India in the long run and there is a need to make a shift towards online payment mechanisms to a higher percentile.
This is clearly a smart and bold move by the company for retaining serious customers and expanding sales!