@Ogechi_Daniel_Ndukwe … Why should we encourage part payment before delivery in the first instance? If a customer agrees to buy a product on the internet, the primary assumption is that the customer wants the product and has the necessary funds to buy it. However, research has shown that certain emotions trigger online shopping experience. For instance, a customer might be absolutely certain they need a product today but that might not be the same in few days (or even in an hour's time). This is the primary reason why sometimes we have a high level of returns for products ordered online (regardless of the payment mode).
In addition, prior to 2013/14, the general consensus (in Nigeria) is that we lack convenient payment modes for a good online shopping experience especially for citizens at the other end of the scale. This was the primary driver for POD. However, in 2017, we have solved this problem. We now have more than enough payment platforms to support any type of customer whatever the social economic status. So while your idea seems to be good, it is in actual fact counter-progressive.
Personally, I think there is an element of DISTRUST involved with most e-commerce purchases and I feel this is what we need to address.
@faulkedodo , I don't mean to undermine your product but in my personal opinion, I feel escrow as a process of payment for e-commerce (product) platforms isn't progressive and should be discouraged. We need to continually build trust by creating platforms that ease online payments. Banks and e-commerce platforms need to take more responsibilities.
For instance, Banks should provide better customer service by resolving e-commerce related issues amicably with their customers - treating them as number 1 priority (regardless of their social-economical status).
E-commerce should be transparent with products/services and also have insurance coverage that will accommodate logistics related issues. i.e. when a product is not delivered as advertised due to logistics-related problems.
Marketplaces should scrutinise sellers for authenticity and also provide a robust seller/buyer review system for potential buyers.
Ideally, we need Escrow for e-services such as remote gigs and projects where the final products can't be determined prior to purchase.