Thailand Post urges COD for online businesses in bid to boost money circulation
Thailand Post is calling on online vendors to give shoppers the option to pay cash on delivery (COD), so more cash can circulate in the e-commerce sector, which has expanded significantly in the new normal.
Phitsanu Wanitchaphol, chief commercial officer at Thailand Post, said it is necessary to have circulation in the e-commerce system as some vendors are not able to seek credit due to lack of evidence of transactions.
Hence, he said, Thailand Post has collaborated with SME D Bank to give online vendors an opportunity to use COD from Thailand Post by just submitting their trading history at the wallet@POST application to show salaries paid as credit.
To be eligible, vendors must have a business licence, while juristic persons must hold at least 50 per cent of Thai stocks.
SME D Bank president Nartnaree Rathapat believes this is the perfect time for the bank to step into the e-commerce sector, adding that this collaboration will help small and medium businesses.