Here’s how Cash on Delivery can optimize your business
Cash on Delivery (CoD) in the Philippines remains a key area of focus for local and international E-commerce merchants. That’s because, despite the significant rise of digital payments in the country, CoD continues to be the preferred payment option for Filipinos.
Offering CoD not only creates consumer confidence in emerging businesses; it also shows your business’ understanding of the local landscape. As such, incorporating the CoD payment option is one of the best ways to attract new customers and convert them into loyal ones.
Here are some other ways Cash on Delivery can help optimize your business.
Flexible payment options empower Filipino customers to shop
It’s undeniable that many Filipinos are still unbanked. In fact, the Bangko Sentral ng Pilipinas (BSP) shared that around 36.9 million Filipino adults don’t have bank accounts. This is around 48% of the country’s adults.
With the Philippines being a predominantly cash-based economy, you open up your business to a bigger demographic when you provide CoD. Filipinos tend to prefer shops that offer payment options that suit their needs, lifestyle, or their situation. With CoD, your customers won’t have to worry about not having credit/debit cards or a digital wallet. They can just pay with cash when their items arrive.
By doing this, you give customers the power to be flexible regarding their payments. And the more they see that you care about their preferences, the more they’ll get encouraged to become loyal customers.
Convenience attracts more customers
Among the benefits of adopting Cash on Delivery to optimize your business is that it’s convenient for your customers.
Cash is one of the common forms of payment, and paying through CoD is a very straightforward process. Moreover, customers don’t have to go through tedious processes of filling out details when paying online. CoD also helps prevent customers from falling victim to online scams and fraudsters, even more so if they’re not tech-savvy.
When you offer Cash on Delivery in the Philippines, you can cater to many potential customers because of how easy it is, and how comfortable they are with it. Customers value convenience, and it is one of the main reasons they patronize a business aside from price points and good deals. When you make things convenient for them, you distinguish yourself from the competition.
Flexibility and convenience are just two of the main benefits that Cash on Delivery in the Philippines can bring you. If you want to up your game and optimize your business, then Cash on Delivery integration is a must.
Ready to take your online business to the next level? Let Payo help you!
Payo offers a convenient way to integrate Cash on Delivery so you can reach more customers here in the Philippines. And aside from CoD integration, Payo also offers other tech-driven solutions, like their data-driven Courier Algorithm and Marketplace Optimization. Additionally, Payo offers Multiple Warehousing and a reliable Fulfillment Service that can further accelerate your growth. What more could you ask for?
Partner with Payo today! Send us a message at [email protected] or sign up now!