The Latest Insights from International Online Marketing
The ecommerce giant Amazon has revealed that around half of its customers in India use the cash-on-delivery payment option.
This is largely due to the fact that a large number of Indians (around 40%) don’t actually have a bank account, and even less have a credit card.
In an attempt to increase the number of bank accounts in the country, thereby stimulating online buying, the Indian government has started implementing its plan to give every household a bank account.
Around 180 million bank accounts have been created under the scheme, although 1 in 3 have not been used and contain no money.
The dominance of physical cash as a payment method means that any business thinking of targeting the Indian market should strongly consider having cash-on-delivery as a payment option.