The new online check-out mantra is
not Cash-on-Delivery BUT Card-on-Delivery. As the trust levels between online
shoppers and online companies increase, the checkout trend is migrating from Cash-on-Delivery
to Card-on-Delivery.
The rapid growth of COD has been possible
due to falling costs of MPOS
(Mobile Point of Sales) terminals and enhanced security.
The below table clearly show growth in
POS Transactions in this financial year.
At present, the data does not
differentiate between POS and MPOS transactions.
Majority of the Indian eCommerce
companies have reported an increase in MPOS transactions during the last
festival season i.e Dusshera/Diwali.
The following newspaper
article will throw more light on the growth of MPOS transactions in India.
Another key contributor for MPOS
transactions is that customers need not go to the POS Terminal; the MPOS Terminal
is brought to the customer. This drastically increases the security of the
transactions.
As Banks and other industry players
spread the benefits of LessCash transactions, the migration from Cash to
LessCash modes will speed up.
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