OCBC Bank and delivery company J&T Express (Malaysia) Sdn Bhd are collaborating to make “last mile” delivery safer and more convenient for over 1,500 couriers through the use of the Bank’s digital collection solution OCBC OneCollect.
The collaboration, will see the digital collection solution being progressively used by all J&T Express couriers nationwide, along with an in-store presence as well.
OCBC OneCollect, is the country’s first merchant cross-border Quick Response Code (QR Code) collection service. Most recently, it was recognised when OCBC Bank received two awards for its role in helping SMEs continue to collect payments despite the challenges posed by the pandemic: The Asset Triple A Award for Best Treasury and Working Capital in New Economy – Malaysia, and Singapore Business Review’s Digital Banking award.
The solution enables J&T Express’s couriers to eliminate cash collection through a QR Code embedded in their collections app. At the customer’s doorstep, the courier simply generates a QR code using the app for the customer to scan and make the payment on the spot. The amount then flows seamlessly into J&T Express’s account. When the funds are successfully credited, the courier receives a credit notification upon which the delivery is released to the customer.
Similarly, for collections at outlets, the process can be implemented saving J&T Express the hassle of needing to open over a thousand dedicated current accounts.
According to OCBC Bank Managing Director & Head of Transaction Banking Ms Chong Lee Ying, the tie-up with J&T Express is a milestone in the Bank’s quest to remove all impediments to effective “last mile” delivery.
“Last mile delivery has long had to contend with safety and convenience issues as the couriers open themselves to unseen and unappreciated risks when it comes to collecting cash on behalf of the company. This can go unnoticed because each collection is relatively small. But the amounts can snowball with each delivery, making the couriers targets for theft. In addition, cash easily gets lost or misplaced. We are pleased that OCBC OneCollect is able to step in where it matters most,” she said.
J&T Express (Malaysia) Sdn Bhd Chief Finance Officer Mr David Zheng, “Going cashless for a cash-on-delivery business is a happy misnomer. We have now made it possible to eliminate cash handling and sorting out of physical cash at all our points of collection including our outlets. This saves us daily trips to the bank as well,” he said.
OCBC Bank became the first bank to introduce PayNow QR into the Malaysian market in 2020 and extended the service earlier this year to logistics and “last mile” delivery companies to address collection and reconciliation issues.
