The new year is here, and it presents an opportunity for you to further improve your business operations. One way to do this is by reviewing the payment options you offer. Digital payments have been on the rise because of the convenience it offers to both businesses and consumers. However, Cash on Delivery (CoD) in the Philippines remains to be a popular option among online shoppers.
Such is the case because of the many benefits it offers in managing transactions and making purchases. If you are unsure about offering CoD in the Philippines, here are five reasons why it continues to be a preferred payment option by many Filipinos.
Cash is still king
The Philippines is a cash-based economy even if the drive to go cashless has become more rampant in recent years. While the pandemic pushed many to embrace digital payments, millions of Filipinos remain unbanked.
Being limited to e-payments may lead customers to other online shops that are more flexible. Choose to keep offering CoD in the Philippines to cater to more Filipinos and keep them from crossing over to your competitors.
Certainty in purchases
Filipinos are what we call ‘siguristas,’ or those who want to be certain of their purchases in person, moreso online. They want to be sure that the products they are buying are up to their standards and are free from any kind of defect.
CoD allows them to check their purchases upon arrival, similar to how they do it in brick and mortar stores. They get to inspect every nook and cranny of their parcel to confirm if it is indeed what they ordered. Think of this as part of going the extra mile to hopefully earn a repeat customer or even better, a referral.
Better planning and spending
There are many reasons why Filipinos opt for CoD for their online transactions. Apart from wanting certainty over their purchase, this allows them more time to plan their spending.
Think of CoD in the Philippines like a deferred payment option. It’s like a buy-now-pay-later promo, but customers use the delivery time to prepare or save up on their payment. So by extension, you are actually helping them plan their budgets ahead of time.
CoD means flexibility
Similar to customers from around the world, Filipinos, too, have varying preferences when it comes to their payment methods. For instance, some may opt for card or digital payments so transactions are easier to manage. There are also those who would prefer CoD because they either don’t have access to other options or they simply want to manage their cash flow.
Providing CoD in the Philippines as a payment option highlights your flexibility as a business. This also increases your chances of catering to more potential customers and ultimately securing more purchases.
Online fraud has become more prevalent
Digital payments have indeed soared over the past year, but so has the number of online fraudsters and scammers. This has changed the game not only for businesses, but especially for customers.
They opt for CoD in the Philippines because it is both a practical and secure choice for them. As a merchant, this is actually an opportunity for you to look out for your patrons, especially if they’re not tech-savvy. CoD now extends from being a simple payment option to a form of protection from online scams.
At the end of the day, customers won’t be able to complete their transaction if they’re not comfortable with your payment options. So if you want to get on the good side of your Filipino customers, best to offer Cash on Delivery in the Philippines. The rewards and benefits will surely be worth it for your business.
Need help with integrating CoD in your business?
Payo is here to help! Payo provides seamless CoD integration, as well as a variety of services to make your operations easier for you. Whether it’s offering live customer support or warehousing, packing, and delivery services, Payo has got a spectrum of solutions that will help boost your business productivity.
Looking to integrate Cash on Delivery and level up your business? Sign up with Payo today or send us a message at [email protected]. Talk to you soon!