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Fintech startup Phi Commerce is bringing doorstep payments innovation to non-metro India

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Pune-based Phi Commerce operates a payments processing platform, PayPhi, for Cash-on-Delivery orders. Now, it is also tapping into card and credit purchases.

That India runs on cash is a foregone conclusion. It is one of the reasons why demonetisation was deemed a “disaster” in most economic circles. Even though India’s online shoppers (of both goods and services) are estimated to cross 329 million by 2020, their primary mode of transaction remains offline i.e. cash on delivery (COD).

But, last-mile logistics around COD - from lack of trust and connectivity issues to clunky payment gateways - continue to plague all stakeholders: merchants, delivery partners, and customers. Additionally, cash collection costs are huge, and issues like fraud, pilferage, and counterfeit notes, prevail.

It is this problem that Pune-based fintech startup Phi Commerce set out to resolve three years ago. It built an omni-channel frictionless payment processing platform - PayPhi - that enabled all modes of digital payments at the customer’s doorstep.

Jose Thatil, CEO & Co-founder, Phi Commerce

PayPhi supports credit/debit cards, mobile wallets, UPI, Aadhaar Pay, Bharat QR, and Net Banking transactions. Its e-COD interface sends SMS and email links to customers to enable them to make payments at the time of delivery.

“Doorstep commerce is what we called it. It was an assisted e-payments model,” Jose Thattil, CEO & Co-Founder of Phi Commerce tells YourStory.

PayPhi not only urged customers to transact digitally, but it also allowed them the luxury of receiving postpaid orders without being physically present at the location at the time of delivery. Even delivery executives are spared the........

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