A prepaid payment
discount, as the name suggests, is a discounting feature that incentives shoppers who choose to pay via a
digital payment mode such as UPI, wallets, net banking, credit/debit cards, and more. These discounts ideally provide an additional rebate to shoppers, creating an attractive proposition for people to embrace the ongoing Indian digital revolution in payments.
Prepaid payment discount engine is one of GoKwik’s flagship and industry’s first ever discount on digital payment modes function. At present, 800+ eCommerce brands across various categories including Fashion, Electronics, Grooming, Beauty & Personal Care, Pet Care, Health & Wellness, and Pharma.
Let’s understand more about GoKwik’s prepaid payment discounting engine with the help of an example.
Swiss Beauty is one of the leading beauty and personal care brands of the country. While the brand registers a high prepaid order percentage from third-party platforms such as marketplaces, etc., it’s own website sees a high COD order percentage. To increase prepaid share of wallet, Swiss Beauty leverages GoKwik’s prepaid payment discounts
If you closely look at the image above, you’ll notice that when a shopper lands on Swiss Beauty’s payments page, they’re not only greeted with multiple payment methods, but also get the option to avail additional discount on their purchase (apart from the applied discount, in this case, Buy 1 at 15% OFF).
Seeing that a shopper can save another 5% on their purchase, shoppers are compelled to take the desired action enabling Swiss Beauty
- Better and higher conversion rate
- Instant cash in bank
- Lower risk of cancellations
- No payment disputes
