Why Isn't There a Middle Ground in Payment Options on #Amazon & #Flipkart and other E-commerce Platforms?
With this week's flood of deals on e-commerce platforms, I've noticed something about payment options that could be improved. Currently, there are two main choices:
1. Pay in full.
2. Pay in EMI.
However, I’ve noticed platforms tend to push EMI transactions by offering bigger discounts (CC discounts) on those.
But what if there was a middle ground? Imagine buying a product worth ?80K, and you have ?40K to pay upfront. You should be able to pay the ?40K now and finance the rest, but this option doesn’t exist. Instead, you’re forced to convert the entire ?80K into EMI, and if it’s not interest-free, you end up paying interest on money you already have.
I’m not an expert on finance, but I believe it would be more convenient if e-commerce platforms introduced a partial payment option, allowing users to pay part upfront and convert the balance to EMI. It’s something worth considering for a better customer experience.
What do you think?
Enterprise Account Executive
3 周Well done, team Gopuff!