Explain cheque and COD system of payment in online shopping. – InterviewSolution

1.

Explain cheque and COD system of payment in online shopping.

Answer»

1. Cash on Delivery (COD):

Under Cash on Delivery (COD) mode the customer needs to pay for the product in cash after he receives it.

2. Cheque:

Under cheque system the seller sends his person at customer’s place to collect the cheque for the order placed.
The seller then deposits the cheque in his account. Once the cheque gets clear he sends the product to the buyer.

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