PhiCommerce to enter credit segment

PUNE: Pune based payment processing firm Phi Commerce plans to enter the credit segment over the next six months, CEO Jose Thattil told ET. The company currently provides an e-Cash on delivery (eCoD) payment solution, PayPhi, which offers a cashless payment option to consumers at the time of delivery.

“We are in a good position to assess the consumer's creditworthiness as we already have access to the their credit history and addresses since the transaction happens at the residence or office, and not online,” he said.

The company will offer credit for transactions carried out online with an offline delivery option, giving the consumer the option to opt for credit on his purchase during delivery. This is unlike other existing options where the consumer has to opt for credit while making the purchase online.


Thattil said that the company would be working with other institutions to offer credit and was in the process of finalizing these details and the product at present. The company is also looking at tapping into subscription-based payments like school fees as it aims to grow its market presence.

Earlier this year, Phi Commerce launched a Bharat QR-based payment solution with a view to bring the e-cash on delivery model to Tier I cities.

PhiCommerce was set up with an aim to increase the rate of digital payments in the country, with a focus on doorstep transactions.

PayPhi has been used to enable eCoD payments for LPG cyclinders and is also being used by logistics firms to help delivery boys enable cashless payments at the time of delivery instead of accepting cash.