LBC unveils ‘Branch Collect’ for online sellers with no bank accounts

Online shopping is now the trend for people who would rather shop using their smartphones. That’s why LBC has launched their newest services to benefit the e-commerce industry: Cash on Pick-up and Cash on Delivery.

But many aspiring sellers like Liza Chavez don’t have a bank account. “Malaking tulong ang aking small online business sa aking pamilya. Pero less hassle sana kung makukuha ko ang payments mula sa aking buyers nang hindi na kailangang makipag-meet up”. Ganito din ang pananaw ni Joseph Quitevis, na kakasimula lang magbenta online ng men’s apparel. Aniya: “Mas maganda sana kung may isang lugar kaming puwedeng lapitan para mag-asikaso ng payments ng aming mga buyer- lalu na’t marami sa kanila ang mula pa sa iba’t ibang sulok ng bansa.”

The only problem is that many sellers like Liza Chavez, do not have any bank account. “My small online business has been a very good source of income for my family”, says Liza.  But business can be better, if I can collect payments without having to go out and meet my buyers individually”. Joseph Quitevis, who just started his small online business selling men’s apparel, shares the same view saying: “It would be great if there was a way for people like me who don’t have a bank account to have a place that will help us facilitate the payments of our buyers- who come from different parts of the country”.

LBC knows too well how important fast and easy transactions are, not only for the buyer but also for the seller. That’s why LBC is happy to introduce its newest service to Liza, Joseph and other online sellers who don’t have a bank account.

The new service is called “Branch Collect”, where  merchants can collect payment from buyers even without a bank account. This is different from before when one requirement for an online seller to avail of LBC’s Cash on Pick-up (COP) And Cash on Delivery (COD) option is for them to have a bank account which can be used by LBC to deposit a buyer’s payment.

With Branch Collect, a seller can simply get their collection from an LBC Branch. All a Seller needs is to declare that he or she will utilize Branch Collect. If a collection is below P10,000, a Seller can just go to any LBC branch to get the payment. If it’s more than P10,000, a Seller needs to identify the LBC branch where he/she can pick up the payment. Under Branch Collect, a Seller will also receive a notification from LBC that the money is already available for pick-up.

The benefit of using Branch Collect for current COP and COD users is that merchants with minimum transactions can get their investment immediately so they can use it again as capital.

Liza says: “From now on, I will now use LBC Branch Collect! Not only because LBC’s services are already tried and tested, but because they always have their customers’ welfare in mind”. Joseph, meanwhile, is looking forward to using LBC Collect saying: “I am confident that with LBC by my side, the future of my small business looks better”.

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