PAYO launches platform to simplify COD transactions in PH
Cash-on-Delivery gateway PAYO launched a new platform last February 20 that aims to simplify and improve the productivity of online businesses and enables them to fully take advantage of the e-commerce platform.
PAYO CEO and co-founder Ofri Kadosh talks about the newest platform that will be the answer to the challenges of COD transactions in the Philippines
In a presentation, PAYO CEO and co-founder Ofri Kadosh shared that the main challenges e-commerce businesses face are high order cancellations, lack of credit history, logistics, and cash flow management. For these problems, PAYO offers a complete package of solutions through PAYO Solution. The platform works in a way that will help recognize client behavior, optimize courier performance, make tracking orders more efficient, and give merchants the option to get immediate remittance.
PAYO offers a complete package of solutions to the challenges of COD transactions. /IMAGE screenshot from payo.asia
The system includes consumer data analysis that will build a credit card history for Cash-on-Delivery (COD) consumers and employ fraud detection. It also integrates courier optimization algorithms that will choose the best courier for a particular delivery based on the couriers’ successful delivery rate.
As opposed to the conventional process of waiting for the courier to remit the payments collected, which can take weeks, PAYO gives merchants the option to get early remittance once the delivery is confirmed successful. PAYO can shorten the waiting time to five days.
Moreover, PAYO only charges merchants for successful deliveries.
IMAGE screenshot from payo.asia
First launched in December 2016, PAYO was developed for HLM, an e-commerce platform and leading call center business founded by Kadosh and his business partner, Liron Gross, co-founder and COO, to scale up their sales and reduce cancellations. The Philippines was the first country PAYO launched in, given the growth potential of the e-commerce industry.
To know more about PAYO, visit its website at payo.asia or email them at info@payo.asia.
