If there’s one thing that helped propel online shopping in the Philippines, it’s Cash on Delivery. This remains to be one of the most sought-after payment methods in the country, even with the availability of digital wallets and online payments.
But what’s the process for CoD, exactly? If you’re still unfamiliar with the concept of Cash on Delivery, we’re breaking it down for you.
How it works
The CoD process is really simple: customers select CoD as their payment option once they check out. They will then only have to pay for their order once it arrives. The Cash on Delivery couriers will collect each payment, and will be in charge of remitting everything to the merchant. Once the merchant receives all the payments, they can close the orders and tag them as a completed transaction.
Offering Cash on Delivery in the Philippines is convenient because not everyone can do online payments. And from a merchant’s point of view, cash handling is simple and does not involve complex processes. The profits from a sale are completed instantly, and the possibilities of payment failures are ruled out.
Remittance pain points
Despite the benefits that CoD transactions present, merchants may also experience a number of problems related to it. One common paint point that merchants like you can experience is the delay in receiving your earnings.
The process of remittance begins when Cash on Delivery couriers remit your earnings. This may sound simple enough, especially for those who have not experienced delays. But there are instances that merchants end up waiting for up to a month or even longer before they receive their earnings. As a result, their cash flow is disrupted and they are unable to access new funds and invest them into their business. It also causes additional stress, especially with needing to follow up on when the remittance will come.
Want to avoid this scenario? Then choose Payo!
Use CoD to your advantage and avoid delayed remittances when you partner with Payo, a leading E-commerce enabler in the Philippines.
Whether you’re a local or international merchant, Payo is committed to helping you effectively and efficiently sell your products in the Philippines with various solutions. Merchants, especially those who use Shopify for their E-commerce platform, can easily offer Cash on Delivery as a payment option through Payo’s Cash on Delivery plug-in. Once installed, customers will automatically see the option for CoD upon checking out.
Additionally, you can get your remittance right away when you avail of Payo’s Advanced Remittance service. You’ll get your earnings even before Payo’s Cash on Delivery couriers remit them! This way, you can grow your business further and run it in a more efficient manner.
Are you ready to integrate CoD into your online business? Sign up today or send us a message at [email protected] so we can make E-commerce simple for you!