Simpl launches early settlement feature for D2C merchants

Simpl, a checkout network has launched a new initiative ‘early settlement’ aimed at reducing the settlement time for cash on delivery (CoD) orders and improving daily sales of direct-to-customer (D2C) merchants.

The company claims that its new feature will reduce CoD settlement time by 90 percent and improve daily sales by almost 40 percent.

The early settlement feature also settles prepaid orders with merchants in the shortest time possible, thereby giving merchants the ability to improve their cash flow with same-day settlement of both CoD and prepaid orders.

Commenting on the initiative, Khanaz K A, chief experience officer at Simpl in a statement said, “As an organisation with a nuanced understanding of merchants’ pain points, the tardy pace of cash flow settlements from CoD transactions in India has been a persistent challenge for D2C merchants in India. This leads to ballooning of monthly unsettled cash for D2C merchants to $300 million, which leads to an increase in their working capital requirements.”

“In the first two months of its pilot stage, nearly two dozen D2C merchants have already adopted our newest business offering, in a testament to its efficacy in solving their cash flow concerns, which they can redeploy to further their business growth,” Khanaz added.

Simpl claims to have over 26,000 merchants on its network and has been working on strengthening its artificial intelligence (AI)-powered technology platform to help merchants improve their business.