Lazada Philippines has introduced a new term of payment this year. In partnership with Banco De Oro (BDO), the locally dubbed Best Online Shopping Mall for this year launched its installment based payment method. All BDO credit cardholders can now avail any items on the site and pay in installments varying from 3-month, 6-month, 12-month, 18-month and 24-month durations. All transactions worth at least P3, 000 can avail of the said terms of payment.
Other methods of payments available are the following: Cash on Delivery, VISA or MasterCard credit card, PayPal and MegaLink.
Cash on Delivery more popularly known as C.O.D. brings a whole new meaning to cash based payments. Customers that avail of this method accomplish their payments at their doorstep. Unlike with other methods, C.O.D. require less account information. The customer must simply submit an order form consisting of the address they wish their item/s to be delivered to. Payments may also be made using one’s credit card. All VISA and MasterCard credit cards are acceptable. Another preferred payment system by many is PayPal. Customers can either sign up for an account or make use of an already existing one. PayPal simply stores credit account information for easier online payment. This is advisable to buyers who constantly make use of their credit card to avoid killing time filling out the same information over and over again. MegaLink on the other hand is slightly different because the payments are made through either their iBank or debit card.
The flexibility of a company when it comes to the methods of payment they accept affects highly their profitability. Since a huge number of online users are still apprehensive about transacting online, e-commerce websites must be able to entertain all possible preference of customers so as to avoid eliminating a certain target market.
Lazada is known for having customer-friendly services and along with this comes expectations on their capability to welcome all types of possible online buyers. Customers are given up to two weeks to fully assess the quality and performance of their products. Within those weeks, products may be returned for either a full refund or exchange. Customers must retain the brand new condition of the product to be able to avail of said return policy. All items inclusive in the delivery must be returned to avoid having conflicts with the production team in charge of assessing the returned item. The item will be assessed on whether it was out of the customer’s mishandling or the company’s negligence to double check the quality of the product that it did perform or reach the quality it supposedly must have. Once the products is verified to be eligible for a refund or exchange, the initial payment made by the customer outside its responsibility will be returned as well.
E-commerce websites have become more accountable regarding their actions and with that, services to address these concerns have been made. Less reports about fraudulent online shopping websites have been accounted for because of the stricter policies required for such websites to exist.