Simpl introduces AI-powered Checkout Suite

India-based Simpl has introduced an Artificial Intelligence-enabled Checkout Suite that may eliminate cash on delivery by 2028. 

As estimates suggest that the total Cash on Delivery (CoD) losses for businesses are approximately USD 6-7 billion annually, Simpl’s goal to eliminate it in ecommerce in the next five years may help in minimising financial losses and fast-tracking profitability. The company aims to achieve this objective by associating with ecosystem partners, as well as by including solutions like Pay After Delivery and Return-to-Origin (RTO) intelligence.

Simpl has developed Pay After Delivery to allow businesses to block the transaction’s amount from the customer’s account limit and finalise the payment process after the delivery has been completed. RTO intelligence allows merchants to determine whether to enable the CoD option or not, based on the customer’s behaviour at the time of checkout. Both solutions may aid in decreasing the number of returns and frauds that impact businesses’ finances. Moreover, the suite offers Address Intelligence to help businesses recognise the address’ quality and identify potential risks associated with it.

The Checkout Suite will be integrated within UPI Block and Debit, which blocks the funds via UPI when the order is placed and initiates a transaction after the delivery. As per Simpl’s officials, 6 out of 10 customers opt for Cash on Delivery as a payment method when ordering a product. While the ecommerce industry has seen a rise, merchants are impacted by the high costs, RTO losses, and difficult working capital requirements. Simpl’s Checkout Suite uses data science models for their APIs and pay-after-delivery solutions, therefore helping businesses with their goals of obtaining profits and sustainability. The company’s solutions may be more pursued, as merchants are digitalising their processes in order to meet the increasing requirements of consumers across the country. 

India’s e-retail market