× General discussion

Remove friction from the sale process

1 week 4 minutes ago #7222 by Dave Cato

Paddy Delaney wrote: To increase sales the Merchant could offer a 4 to 6 installment plan (interest-free) - weekly or monthly - in this case, we levy 1% fee on Merchant for service and them have peace of mind they will get paid, increase business because of 'Pay me later' Interest-free installment sale etc and everyone is happy - credit up to the limit of the value of say 50% of derived income will be extended


Paddy, All this sounds like a good "Work Around" the debate of Credit or Debit in Frega accts. I do note that it won't happen overnight but it will happen. (next year) Good thinking 99...
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1 week 1 hour ago #7215 by Paddy Delaney
To increase sales the Merchant could offer a 4 to 6 installment plan (interest-free) - weekly or monthly - in this case, we levy 1% fee on Merchant for service and them have peace of mind they will get paid, increase business because of 'Pay me later' Interest-free installment sale etc and everyone is happy - credit up to the limit of the value of say 50% of derived income will be extended
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1 week 1 hour ago #7213 by Paddy Delaney
Something we will introduce next year is that when a Frega account holder has logged in, we will know whether they have a good Frwega Rating, have subscribed to the Plan, have a reasonable derived asset value. When they add something to a cart and process the invoice (of a reasonable amount) and the Merchant (at the time of managing the listing agrees to the service) the buyer will be given opportunity to 'Pay Later' ...click and have the good dispatched and a popup will say the further price will be taken from their Frega Account in 14 days and transferred at that time to the Merchants Frega Account ...

After 7, 10 and 13 days the buyer will be reminded that the transaction will be processed at x time on day 14.

Should there be no money to process the transaction the transaction will 'bounce' and the Buyers Frega rating decrease by 100 points and 7 days will be given to remedy the situation failing which we start selling down their derived rights (5%/10%/15%/20% etc) until the amount has been raised to cover the debt

The main point is the 'Pay me Later' means we remove friction in the sale process and buyers tend to buy more when they only have to pay later

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