Online payment methods are not the same throughout the e-commerce world. There is always a payment method that outshines its counterparts just like the payment method offered by the Philippines number one online shopping mall Lazada this company offers its consumers safe, easy to use and secured payment systems that was never before seen in any local online shopping website.
They make online shopping very easy and feasible even for consumers who do not have a credit card but we are going to talk about that payment method later on because we are going to discuss the primary method of payment being offered by the company. Just like other online shopping companies out there, Lazada provides its consumers with a default payment method. That default payment method is none other than…surprise… the credit card payment system (if you got actually surprised by that then you are probably not an avid online shopper). The credit card payment method is the widely used payment system by online shopping companies. In fact there is probably no online shopping company out there that exists and does not use or offer the credit card payment system. It is simply the most natural way to do an online or electronic transaction. That is also one of the main reasons why online shopping did not become as popular in the local front as it is internationally.
A lot of consumers in developing nations are not as open to the use of credit cards as their counterparts in developing nations are. People in developing countries did not grow up using credit cards so it is not a part of their mind set to acquire and use one. Add to that social conditioning the fact that it is not that easy to acquire a credit card in developing countries like the Philippines. There are lots of requirements that effectively keep regular consumers out of the credit card loop. One of those requirements is having a higher income and there is not a lot of people that are included in that higher income range. You probably understand by now why online shopping was not as acceptable and doable as it is right now.
Lazada Philippines and its online incubator Rocket-Internet figured out that something should be done to make online shopping easier for consumers that are being limited by the popular payment method offered online. The solution that Lazada came up with is the cash on delivery payment method. A payment method that allows consumers to pay using cash inside their wallets as the name of the payment method itself implies. It easily opened untapped markets up to the benefits of online shopping. Doing transactions became very easy. Consumers can now enjoy online shopping without worrying about making an upfront payment. Lazada is one of the first local online shopping companies to offer this payment method and it is no wonder why they have become huge and very popular among online shopping consumers. The cash on delivery payment method indeed stands out among the rest.