Thailand Post urges COD for online businesses in bid to boost money circulation

[webfact]

Thailand Post urges COD for online businesses in bid to boost money circulation

By The Nation

 

 

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.

 

Source: https://www.nationthailand.com/news/30394870

 

-- © Copyright The Nation Thailand 2020-09-21

 

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[DrTuner]

Yes, because bank notes are the best way to pay for deliveries ... back in the dark ages.

[fangless]

Another U=turn in COVID policies!

I thought due to social distancing requirements we were advised to use contactless payments in shops and credit cards online for deliveries.

Edited September 21, 2020 by fangless

[Antonymous]

On the surface this doesn't make alot of sense. What is the real motive? Probably there has been a surge in online trading with many new small vendors using the postal service for delivery. My guess is that many of them won't be registered or pay any taxes. So...

 

Perhaps the key lies in these terms:

 

"vendors ... submitting their trading history at the wallet@POST application to show salaries paid as credit."

 

"vendors must have a business licence"

 

"while juristic persons must hold at least 50 per cent of Thai stocks".

 

Just maybe this isn't some altruistic move to help vendors, but instead the motive is to monitor trade and collect taxes. I could be completely wrong of course.

[Bender Rodriguez]

if I order lazada / shopee, it is COD or nothing

 

I don't want to go run after my package prepaid that now I have to go to location xyz because I was not home ALL DAY FOR 3 DAYS when they decided to come by without any warning ...

[tomazbodner]

Of course they would. For COD Thai Post makes a nice commission as well... They get nothing if buyers pay to sellers directly...

[salsajapan]

23 hours ago, webfact said:

To be eligible, vendors must have a business licence, while juristic persons must hold at least 50 per cent of Thai stocks.

 

Sure it will work !

 

 

[jackdd]

I'm sure that it's not about the 3% commission which Thailand Post charges for COD

Edited September 22, 2020 by jackdd