Though initially it started with Cash-on-Delivery (CoD), net-banking, credit and debit card modes of payment, later on with the introduction of e-wallet/mobile wallet as an alternate mode of payment, the business has got the desired impetus. CoD involved a cost for the e-tailers whereas consumers /buyers were probably having lack of trust in online transaction using net-banking, credit/debit card details.
Raghuram Rajan: Financial Sector Legislative Reforms Committee Report (FSLRC) – what to do and when? Talk by Dr Raghuram Rajan, Governor of the Reserve Bank of India, at the First State Bank “Banking and Economic Conclave”, Mumbai, 17 June 2014.