27/12/2024
𝐖𝐡𝐲 𝐂𝐎𝐃 𝐖𝐚𝐬 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐞𝐝 𝐢𝐧 𝐁𝐚𝐧𝐠𝐥𝐚𝐝𝐞𝐬𝐡👇
𝟏. 𝐋𝐨𝐰 𝐓𝐫𝐮𝐬𝐭 𝐢𝐧 𝐎𝐧𝐥𝐢𝐧𝐞 𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬
When e-commerce started to grow in Bangladesh (around 2010-2015), trust in online shopping platforms was minimal. Customers were unsure whether they would receive the products they ordered, so COD allowed them to verify the product before payment.
𝟐. 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐎𝐩𝐭𝐢𝐨𝐧𝐬
Digital payment systems like bKash and Nagad were not as prevalent or well-integrated with e-commerce platforms when the sector began. Without easy access to card payments or online banking, COD became the default.
𝟑. 𝐄𝐧𝐜𝐨𝐮𝐫𝐚𝐠𝐢𝐧𝐠 𝐍𝐞𝐰 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫𝐬 𝐭𝐨 𝐓𝐫𝐲 𝐄-𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞
COD served as an entry point for consumers who had never shopped online. It eliminated the fear of losing money in case of fraud or non-delivery, making it easier for businesses to gain new customers.
𝟒. 𝐋𝐨𝐰 𝐁𝐚𝐧𝐤𝐢𝐧𝐠 𝐏𝐞𝐧𝐞𝐭𝐫𝐚𝐭𝐢𝐨𝐧
Many Bangladeshis, especially in rural areas, do not have bank accounts or credit cards. COD catered to the unbanked population and made e-commerce accessible nationwide.
𝟓. 𝐂𝐮𝐥𝐭𝐮𝐫𝐚𝐥 𝐏𝐫𝐞𝐟𝐞𝐫𝐞𝐧𝐜𝐞 𝐟𝐨𝐫 𝐂𝐚𝐬𝐡 𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬
Bangladesh has historically been a cash-driven economy. Even today, cash is the primary mode of transaction for most small and medium-sized businesses.
𝟔. 𝐋𝐚𝐜𝐤 𝐨𝐟 𝐑𝐞𝐟𝐮𝐧𝐝 𝐚𝐧𝐝 𝐑𝐞𝐭𝐮𝐫𝐧 𝐌𝐞𝐜𝐡𝐚𝐧𝐢𝐬𝐦𝐬
Early e-commerce platforms lacked robust refund and return policies. COD gave customers control, allowing them to pay only when satisfied with the product.
EcomPay Looking Ahead:
While COD was crucial in building the Bangladeshi e-commerce market, its dominance poses challenges like higher logistics costs and operational inefficiencies. To move away from COD and increase digital transaction with 100% security , the industry needs to focus on
