Lazada Philippines CEO expects decline in cash-on-delivery payments

By: Business World
Source: bworld

E-COMMERCE platform Lazada Philippines has seen a decline in cash-on-delivery payments as more customers use digital wallets as the payment method for transactions.

“Cash on delivery has been going down. I would say it is probably contributing to about slightly more than 50% [of transactions] but it’s been going down from a historical benchmark. Before, it was 70% to 80%. Now, it is constantly losing every single year, it is constantly losing importance,” Lazada Philippines Chief Executive Officer Carlos Otermin Barrera told reporters during a media briefing in Taguig City on Tuesday.

Mr. Barrera attributed the decline to the higher adoption of digital wallets during the coronavirus disease 2019  pandemic.

He said Lazada’s services such as LazPay and LazPayLater have helped in the transition of customers from the cash-on-delivery method.

“Lazada is all about convenience and trust. We are very ambitious about our LazPay and our LazPayLater service. We have our own set of wallets,” Mr. Barrera said, adding that these allow more people to access different products and have “very payable financing terms.”

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