Startup Idea : Solution for Ecommerce Cash On Delivery Problem

Cash on Delivery dominates maximum payment for ecommerce in South East Asia. In India it consists of 80% of payment and in Bangladesh it is more than 95%. This is due to lack of trust to ecommerce companies in these region. People here like to pay after they touch and see the product they are buying. But cash on delivery creates several burden for the ecommerce companies: 1. Risky cash handling. 2. Time lag between payment receipt. Delivery companies charge extra fee for giving this service. 3. Leads to fraudulent order and more unnecessary product returns. 4. It can not be offered in remote areas. The product Model: 1. Customers download our app. Link their credit card/ debit card. They gets a unique wallet ID. 2. While checkout they select our Electronic Cash On Delivery method. 3. When the delivery man arrives with the product the delivery ask the customer for wallet ID, inputs the amount and vendor name. 4. Customer receives payment request in his wallet and confirms USP: Customers still pay when they get the product People dont need to provide credit card info in multiple websites Ecommerce get their payments much easily and have direct control on it