E-commerce moving to ‘Card on Delivery’

MyGrahak prepares for the next growth phase

MyGrahak.com, the largest online retailing platform in India selling food, grocery and household items, today introduced ‘card on delivery’ option for customers allowing them to make payment by swiping their card while orders are being delivered. Delivery boys will bring with them portable card swipe machines. The device is GSM enabled with battery back-up.

Mr. Ambuj Jhunjhunwala, Founder & CEO, MyGrahak Shopping Online Limited said, “Card on delivery is another payment option that we would like to offer our customers from now. Our customers will now benefit from better cash management and can avoid hassle of tendering changes. We believe ‘Card on Delivery’ option will encourage more customers to move from cash on delivery to card on delivery.”

‘Cash on delivery’ revolutionized e-commerce in India. With inherent disadvantages for the seller, the service is seen as a ‘necessary evil’. It was needed to earn trust from customers. Now it is time for the sector to handhold customers to better payment options. – Mr. Ambuj Jhunjhunwala

“We collect in excess of 2 lakh in cash/day growing at 40 % Month on Month. We foresee cash management becoming a challenge as turnover increases to 20-50 lakh per day. With such improvements in service, we would like to save on the Cash Management System (CMS) and also reduce risk of cash in transit and at office. It will also ensure us lower overhead and better accounting practices.” Adds, Mr. Ambuj Jhunjhunwala.