TV24 Correspondent: eCourier, an initiative of Dotlines, is a pioneer in introducing technology enabled 360 logistics services over the last 7 years. To further transform and disrupt the logistics industry of Bangladesh, eCourier has launched the first on demand instant payment service for its valued merchants. The service has been named ‘Insta Pay’.
In this digital era, end customers prefer cash on delivery services. A recent report by a national media stated, 97% of online customers opt for cash on delivery (COD) as payment method. While this option is preferred by customers, in most cases, this is burdensome for small to medium sized merchants, as their investment is stuck till the courier or parcel delivery company reconciles the payment, which happens at best once a week. This means the merchant must wait for the payment to be received for him/her to roll the investment for further production of its products. This puts a major burden on them and in many cases, the following weeks delivery get delayed as products are not ready. This not only hurts the reputation of the merchant, it also demoralizes them from further expansion of their business.
Through the newly introduced ‘Insta Pay’ service, merchants and businesses will receive their due payments instantly when delivery is completed upon receiving the cash. This is a technologically automated service that will ensure merchants receive their money instantly in digital method i.e. MFS for now and bank accounts to be introduced soon. As a result, for products, parcels or documents delivered at any location in Bangladesh, merchants can expect to receive their payments digitally and instantly without any delay. Merchants opting into this service can roll their funds without having to wait for any delays.
Biplob G Rahul, founder and CEO of eCourier stated, “I truly believe in the potential of fCommerce and SME merchants. InstaPay is a revolutionary service that came out of our relentless pursuit of making business processes simple and convenient for our merchants. Through ‘InstaPay’, my valued merchants will have the financial freedom to continue growing their business without any headache. Also, since we are converting cash to digital currency, InstaPay will go a long way towards fulfilling our Honorable Prime Minister, Her Excellency, Sheikh Hasina’s dream of a Digital Bangladesh.