Payment Modes

Summary

The video script discusses various payment options for parents to choose from, ensuring flexibility based on individual needs. It highlights the one-time payment method, similar to buying a movie ticket, and the installment plans available through credit cards with no extra cost. The script also introduces no-cost debit card EMI options for those hesitant about credit cards, Bajaj Finance for those without credit or debit cards, and e-mandate as a last resort for automatic payments. The emphasis is on understanding the customer's financial situation and offering the most suitable payment method without compromising the sale amount.

Takeaways

• 🎟️ The one-time payment option allows parents to pay for the entire course upfront using various methods like NEFT, RTGS, UPI, debit, or credit cards.
• 💳 The installment plan with no extra cost is available for credit card users, making it easier for those uncomfortable with paying the full amount at once.
• 🛍️ RazorPay facilitates easy installment plans for almost every credit card, similar to purchasing gadgets or electronics with EMI options.
• 🏦 No-cost EMI through debit cards is an option for those who prefer not to use credit cards, but it's limited to certain banks like HDFC, ICICI, and Axis.
• 🤔 Bajaj Finance is a partner offering EMI options for those without credit cards or who prefer not to use them, acting as a personal finance assistant.
• 🏦 E-Mandate is a last-resort option for automatic payments from a bank account if other methods are not suitable, but it may reduce the sale amount.
• 🔄 It's important to offer payment options based on the customer's financial situation and not present all options indiscriminately.
• 📉 E-Mandate should be the last option considered due to its potential impact on reducing the sale value.
• 👉 Understanding the customer's financial preferences is crucial, such as whether they use credit cards or only have debit cards.
• 🛡️ Bajaj Finance provides a no-cost EMI plan for parents who want to manage their monthly budget without stress.
• 📝 The script emphasizes the need to explain payment options according to the customer's needs and financial conditions.

Q & A

What is the one-time payment option mentioned in the script?

The one-time payment option allows parents to pay the full course fee upfront using various payment methods like NEFT, RTGS, UPI, debit cards, or credit cards, similar to buying a movie ticket.

Why might a customer prefer an installment plan over a one-time payment?

Some customers may not be comfortable paying the entire amount at once, so they can opt for an installment plan without any extra cost, using their credit card.

How does the credit card EMI option work with RazorPay?

With RazorPay, easy installment plans can be set up on almost any credit card, allowing customers to pay for the course in installments without incurring additional fees.

What is the no-cost debit card EMI option, and who is it suitable for?

The no-cost debit card EMI option is for those who are not familiar with or prefer not to use a credit card. It allows them to pay in installments through their debit card, similar to an EMI plan.

Which banks are covered under the no-cost debit card EMI option?

The no-cost debit card EMI option is available for account holders of HDFC, ICICI, and Access Bank.

What is Bajaj Finance, and how does it differ from credit card EMI options?

Bajaj Finance is a trusted partner that provides EMI options for those who do not prefer or do not have a credit card. It offers no-cost EMI plans for parents who want to pay monthly, acting as a personal finance assistant.

What is an e-mandate and when is it considered as a payment option?

An e-mandate is an option for setting up an automatic payment directly from a bank account. It is considered when no other payment method suits the customer, and it involves a 40% consideration of the sale value.

Why is the e-mandate option kept as the last resort in the payment options?

The e-mandate is kept as the last resort because it may decrease the sale amount due to the 40% consideration rule, and it's important to prioritize other options that can secure the full payment.

How should the payment options be presented to the customers according to the script?

The payment options should be presented according to the customer's needs and financial condition. It's not advisable to offer all options at once; instead, tailor the explanation to what the customer is comfortable with or prefers.

What is the recommended approach when a customer does not have a credit card?

If a customer does not have a credit card, the next recommended approach is to explain the no-cost debit card EMI option (Soft). If that doesn't work, then introduce Bajaj Finance, and as a last resort, suggest the e-mandate.

How can the script help in understanding the different payment options for course fees?

The script provides a detailed explanation of various payment options, including one-time payment, credit card EMI, no-cost debit card EMI, Bajaj Finance, and e-mandate, helping customers choose the best option that fits their financial needs.