Kwik cash on delivery (KwikCOD) is a type of transaction where the recipient pays for a product upon delivery rather than using a credit or debit card. Our COD payment methods vary depending on the payment terms of the purchase agreement.
Cash on delivery is also known as cash on delivery because the delivery can allow payment by cash, POS machines, and bank transfers.
Key Takeaways
- Cash on delivery (COD) occurs when a recipient pays for a good or service upon delivery.
- A cash on delivery transaction can take many different forms, each of which can affect a company’s accounting.
- Cash payment offers customers the advantage of saving time and paying in full.
- Sellers get paid faster for sales as long as the buyer accepts the goods.
Benefits of Kwik Cash On Delivery
For many buyers, cash on delivery makes it easier to pay for goods and services immediately. This is an important accounting benefit as it can significantly increase product orders and fulfilment.
Kwik cash on delivery gives buyers time to save up cash to make full payment when these products get delivered. However, cash on delivery shipping increases the risk that a customer will not plan for the payment correctly and will have to return the product.
Please note that product rejections/returns do not contribute to earnings and these return shipping charges may apply to the seller. Please read through our cash on delivery terms and conditions to get familiar with the company’s policy.
Kwik COD can also help merchants avoid certain risks of stopped payment or electronic card disputes. In Nigeria today, cash on delivery transactions are boosting internet commerce.
Cash transactions appeal to consumers who prefer to personally scan through their items before making payments.
Kwik Cash On Delivery For New And Existing Customers | Kwik
Common Kwik Cash On Delivery FAQs
What’s the meaning of Kwik cash on delivery?
Kwik cash on delivery is when a buyer pays for goods or services immediately upon receipt of the item.
How does Kwik cash on delivery work?
For example, buyers can place an order from your physical shop, social media page, or website, and request delivery.
The customer does not pay when ordering the item and agrees to pay the cash on delivery. Once the order is placed, you can use the Kwik delivery app to set up a Kwik COD order.
Please read this article to learn how to use the Kwik COD service.
After that, a Kwikster will pick up the parcel and deliver it to the buyer in less than 2 hours. The customer then pays us with cash, a credit/debit card, or a bank transfer.
Kwik will immediately transfer the money to the vendor’s account after deducting the delivery and handling fees.
What are the pros and cons of Kwik COD?
| PROS | CONS |
| The method provides some protection from customers who might fail to pay or pay late. | Greater risk of delivery refusal. |
| Cash on delivery improves cash flow and budgeting. | Returning items can be costly for sellers who lack return infrastructure and support. |
| Consumers who do not have credit/debit cards can buy products. | Buyers may find it difficult to return items that do not meet expectations. |
Final Verdict
Kwik cash on delivery is a payment option that benefits both buyers and sellers. For buyers without credit, cash on delivery is a convenient way to buy the things they need. For sellers, payment is faster as long as the goods are accepted on delivery, payment is guaranteed.
Do you need an online store for your business? You may want to take advantage of KwikStore – a free online store creation tool developed exclusively for Kwik customers.
Click this link to set up a KwikStore in less than 5 minutes with your smartphone.
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