Logistics tech startup Pickrr on Thursday said it has launched an early COD (cash on delivery) service for its sellers that will help in faster money transfers to their bank.

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With the early COD option, the company aims to support its sellers and help them get money in their accounts within a day of the package delivery, it said.

According to Pickrr, the brand has three options for COD remittance, depending on the sellers' requirements, and the users can choose a plan that suits best to improvise the cash cycle as per their business needs.

Sellers who prefer to get the remittance within 24 hours select the early COD remittance option, which gets applied to the account, it said, adding that many sellers have already started taking advantage of early COD with Pickrr.

The startup said that as e-commerce penetration increases with more than 90 per cent of people opting for COD, especially in smaller towns, the share of COD payments has been rising.

For Pickrr, almost 70 per cent of the total business is COD driven, and the remaining 30 per cent by payment mode.

The option of early COD will benefit the small D2C sellers, as they will be able to have an uninterrupted cash flow. 

This will not only help sellers to plan better but also increase their scope of further investment, said the platform, which has a more than 75,000 strong seller base.

Gaurav Mangla, co-founder-CEO at Pickrr, said, ?Pickrr has been working on various aspects to provide convenience to its sellers, early COD being one of them. 

The feature of early COD remittance for our sellers will empower them especially, small business owners who are dependent on constant cash flow. This initiative will help us support our business partner and help them flourish their brand and maintain a return to origin (RTO)".

Early COD remittance is one of Pickrr's value-added services, including Pickrr Select, Pickrr Connect, RTO reduction suite, among others, according to the release.