Payment Modes
Summary
TLDRThe 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.
Outlines
🎟️ Payment Options for Parents
The script introduces various payment options tailored for parents to choose from, ensuring flexibility to suit individual needs. The first option discussed is the one-time payment, which allows parents to pay the full course fee upfront using methods like NEFT, RTGS, UPI, debit, or credit cards. This is likened to buying a movie ticket, where payment is made once and the course is secured. For those uncomfortable with a lump sum payment, installment plans via credit cards are offered at no extra cost, facilitated by Razor Pay, covering almost every credit card. The script also mentions the no-cost EMI option through debit cards for those who prefer not to use credit cards, with limitations to certain banks like HDFC, ICICI, and Axis Bank. Bajaj Finance is highlighted as a partner providing EMI options for those without credit or debit cards, aiming to assist parents with budget constraints. Lastly, the e-mandate option is presented as a last resort for automatic payments from bank accounts, with a 40% consideration on the sale value.
Mindmap
Keywords
💡One-time Payment
💡Installment Plan
💡No-cost EMI
💡Credit Card EMI
💡Debit Card EMI
💡SOPS
💡Bajaj Finance
💡E-mandate
💡Razorpay
💡Customer’s Financial Condition
Highlights
Introduction to different payment modes for parents to choose the best option that fits their needs.
One-time payment option allows parents to pay the full course fee upfront using various methods like NEFT, RTGS, UPI, debit or credit cards.
Customers can opt for installment payments without extra cost using credit card EMI options.
RazorPay enables easy installment plans on almost every credit card.
No cost EMI options are available for buying gadgets like mobile phones and laptops, and the same can be enjoyed for course payments.
Shops offering no-cost debit card EMI as an alternative for those not comfortable with credit cards.
Soft options are available for EMI through debit cards for HDFC, ICICI, and Axis bank account holders.
Bajaj Finance is a trusted partner providing EMI options for those without credit or debit cards.
Bajaj Finance offers no-cost EMI plans, making it easier for parents to manage monthly budgets and household expenses.
e-Mandate is an option for automatic payments directly from the bank account if other methods do not work.
e-Mandate involves a 40% deduction in the sale value, so it is kept as the last option.
It is important to explain payment options according to the customer's financial condition and needs.
Customize the explanation of payment options based on whether the customer has a credit card, debit card, or neither.
If a customer only has a debit card, explain the Soft option before considering Bajaj Finance.
If no other options work, then definitely go with the e-Mandate as a last resort.
Avoid offering all payment options to a customer at once; instead, understand their financial situation and preferences.
The goal is to make sure the payment is received in one time if possible, but provide alternatives if needed.
Transcripts
mods and we have different payments mod
for the parents so that we can give them
different options okay uh so now we are
going to explore these different type of
mode uh modes which we offer uh
somewhere these options ensure that
every parent can choose the option that
uh best fits their needs okay so let's
start with the first option which is
onetime payment option uh onetime
payment option it's like you're buying a
ticket to your favorite movie and you
can pay for the whole course upfront
using the methods like NFD rtgs UPI
debit cards or credit cards okay uh
because when I mentioned about the movie
ticket so now we can imagine when you
buy a movie ticket you can pay now and
you are all set to enjoy the show
similarly you can pay for the course
okay uh but yes there are scenarios
where customers are not comfortable in
sharing the uh you know giving the
entire amount in one go so then uh
customer can prefer to pay an
installment without any extra cost and
that's where our credit card no cost
comes into the picture so with razor pay
we can set up an easy installment plans
on any of the credit card like almost
every credit card is covered under it so
uh you can say that yes we have credit
card options um Emi options available
with us again uh it's like you're buying
your favorite Gadget with a special
installment plan we have done that
nowadays people are buying mobile phone
laptops through Emi options so similar
thing you get to enjoy with us without
having worrying about added fees on
anything extra right next up we have
shops offering no cost debit card Emi
this particular option usually for those
people who are not familiar with credit
card or not prefer to use credit card so
you can give them same option of Emi uh
through debit card that's how soft comes
into the picture this option is a
perfect for those parents who are
skeptical about using credit card so yes
it is again hassle-free process but
there is a limitation Sops is only
available for four Banks one of them is
HDFC IC C and access bank account holder
okay uh because I have observed this in
my career that parents who are U limited
to their budgets who are not ready to
pay much amount of money at one go but
still they are not having credit card
option so we can help them to have one
Emi option through soft sale okay uh
another one option is baj finance so
let's talk about baj Finance they are
our trusted partners and one of the
leading platform for providing easy Mii
option for those people who um doesn't
prefer to go with the Mii through credit
card or maybe not holding any credit
card and sometime customers are not
having debit cards as well so that time
this part comes into the picture so
let's say softare is not working out or
let's say softare approval is not there
so then we can go with the B as Finance
okay uh this is again offering a no
costmi plans for parents who want to pay
monthly it's like having a personal
finance assistant because we are not
going with credit card we are not going
with debit card option okay so uh
parents who
are concerned about their monthly budget
and for their household expenses for
them it is easy to manage their finances
without any stress and that's how your
bizar Finance can play a very big role
lastly uh but again e mandate e- mandate
is an option for people who for whom any
option is not working if none of the
other method suit you don't worry we got
you covered this involves setting up an
automatic payment directly from your
bank account and that is known as a e-
mandate although the amount of the sale
value will be 40% into the consideration
if you're going with the e- Mandate
that's why uh we kept it in the last but
first thing which we need to do we try
to make sure that we uh get the payment
in one time if that is happening it's
most beautiful thing but if customer is
not okay then we can go with credit card
option then so ship then baj finance and
last e- mandate so prefer not to go with
e- mandate because it will decrease the
sale amount so it's important that we
explain options according to the
customer's need it is not okay to offer
all the options to a customer it it is
okay to understand customers uh Finance
condition let's say if a customer saying
that I'm using credit card then only
explain credit card if a customer is not
having credit card only debit card then
try to explain only softs if soft is not
working then jump into the baj F if
nothing is working then definitely you
go with the e- mandate
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