Cash is not the Barrier to Shop Online, it is a Way

Looking at the ads of your favourite items on sale and not being able to buy is a major shot in a heart for anyone. It is surely hard to find anything in the physical market that can beat a $1 fidget spinner and $5 for 50 shades of eyeshadow palette.

You might cry your heart out while hoping that someone could pay them for you. By the time you beg for that ‘someone’, others already grab them up via online banking or credit card.

Who still pay by cash in this era?

Below are the categories of shoppers that find cash a must-have in online stores:

• Teenagers under 18 years old
• Students
• Foreigners / foreign workers
• Shopper who are used to go to the merchant’s offline shops
• People without credit / debit cards
• People without internet banking
• People in the rural area

Combining all these categories could take up to 60% of the Malaysian population. Previously, they might use cash deposit machines (CDMs) as the sole cash channel.

Due to certain limits, shoppers are not able to pay the exact amount that at the end will cause the seller to return the change, even in cents.

Here is the normal process between a seller and a shopper who uses CDM:

If you see the cycle closely, you might feel the stress if you face the same kind of customers for 200-300 times per month, repetitively.

In some days, payment process might have its bad days, thus you might get attacked with continuous texts from customers.

Questions like “Have you received my payment?” or “Have you returned the change?” will constantly pop up in your inbox. That is actually a lucky situation. If the customer or you put the wrong account number, that can add up the worst strains in your head and your money account.

Looking back to which nature they come from, they are not able to check their bank account immediately. So, the process can take longer than it should. This problem will always come back to the seller and give the business a bad name.

Customers always right; if you want them to stop pointing fingers at you, stop these following problems:

• Put the wrong account number or other necessary info
• Letting them do multiple processes
• Too much direct interactions

Adopting a payment gateway can reduce the tiring processes. If you realize the trend of cash still strong among your shoppers, it is time to put Razer Cash channel in use and educate your shoppers on it.

You can also open the door for offline shoppers to join the fever of online shopping.

Taking Razer Cash as a way

Due to age limit or insufficient knowledge regarding credit cards and internet banking procedure, many have found cash as an alternative that should be provided online.

It is the simplest mode of payment that anyone can use. But, to make it acceptable online, it only needs merchants to turn on their Razer Cash channel after they are registered with Razer Merchant Services. Then, customers can start making payment at the nearest 7-Eleven outlets.

To discover how Razer Merchant Services can help you expand your payment options and increase sales, schedule a free appointment with our team today.