Cash on delivery vs Online payment

[Holicent]

Cash on delivery

Cash on delivery is a popular payment method for many businesses. It's simple, easy and convenient for the customer, but it does have some disadvantages. It is expensive. The goods may be held at the trader's premises until you pay them, and this can add to your costs.

Online payment

If you use an online payment system such as PayPal or Stripe, then you'll usually be able to get paid quickly and easily. You'll also be able to choose how much you pay your supplier and when they should receive their money. This will usually mean that they get paid quickly and don't have to wait around for a cheque or bank transfer.

Online payments also allow companies to collect information about their customers' shopping histories with them, which helps them tailor their services accordingly. For example, if someone regularly buys items from your website then you will probably want to send them special offers or discounts on future purchases - this is something that cannot be done with cash payments or cheques because they do not provide any information on previous purchases by the customer.

 

[saoussen5765]

Online payment has a lot of drawbacks like being debited twice and also Stripe or PayPal doesn't offer QR Code for payment which seems more secure than delivering credit card details. For some services they debit from credit card while scanning QR Code rather than providing all these sensitive informations.

 

[Carpon]

Well, I think for both means of payment you have talked about, giving discount or offers is possible. Just as an online purchase can receive discount, cash purchases too can be discounted and I offer that in my business which uses the cash payment method. I also receive a lot of discounts while making cash purchases most especially if it is a bulk purchase

I personally prefer the cash payment because of the risk you may encounter with online transactions. The advantage attached with online transactions is that you can purchase items from afar and pay for them while they get delivered to you.

And if it is a direct back transfer, their are transfer charges which the bank makes per transfer you make. These are reasons why I think online transactions are not so good. These are my personal views.
Thank you