collectAI launches “Select&Pay” making returns easier than ever

• collectAI complements online invoices with the interactive returns feature “Select&Pay”
• Items to be returned can be deselected online – invoice amount changes dynamically

Hamburg, June 24, 2020 – The intelligent payment solution provider collectAI is expanding its range of services in digital, AI-based receivables management. Hamburg-based fintech is now offering e-commerce companies the intuitive returns feature “Select&Pay”. Invoices become interactive with “Select&Pay” and enable direct payment with a variable shopping cart.

The new “Select&Pay” feature frees online customers from withdrawing returns by hand and thus replaces the calculator. In addition to reliable forecasts of incoming returns, e-commerce companies also gain valuable data about their customers’ behavior through “Select&Pay”. This offers potential for personalized product recommendations.

Paying with Select&Pay is that easy

After receiving their online order, e-commerce customers will receive an interactive invoice by email. By clicking on the integrated payment link you will reach a payment page. The familiar brand world that customers know from the online shop is continued there.

With the “Select&Pay” feature, customers can deselect items that they want to return. The open invoice amount changes automatically. Customers can choose the preferred payment method from the usual payment methods and make the payment with just a few clicks.

Test here how comfortable “Select&Pay” is.

Intuitive payment replaces tedious subtraction

“Select&Pay” makes payment an experience for customers:

• Simple: one click is enough to reach the payment page.
• Familiar: Customers stay in the dealer’s usual brand worlds.
• Convenient: articles to be returned are deselected using intuitive sliders.
• Efficient: No typing of account and reference numbers and subtraction of articles necessary – pay faster, fewer sources of error.
• Dynamic: Invoice amount changes depending on the selected items.
• Free: Customers choose payment methods based on personal preferences.

E-commerce companies benefit in many ways:

• Loyalty: Paying becomes a positive brand experience and strengthens the bond.
• Cost reduction: Less manual effort due to decreasing booking differences.
• Securing liquidity: Fast realization of outstanding amounts.
• Inventory optimization: Data on orders and returns enable more efficient planning of inventory levels.
• Cross selling: After payment, customers can be shown personalized advertising. This increases the customer lifetime value.

Managing Director Sebastian Hoop sees the new module as an instrument to significantly shorten the Days Sales Outstanding (DSO). “In e-commerce, buying on account is like the most popular payment method – but also the most risky in terms of potential payment defaults. With ‘Select&Pay’ we increase customers’ willingness to pay and thus reduce the risk.”

About collectAI
collectAI is a Hamburg-based Intelligent Payment Solution Provider. Offering a software platform for Interactive Invoices and Smart Payment Reminders, collectAI applies Artificial Intelligence and combines various communication channels with a variety of payment methods.
collectAI’s smart technology has proven to maintain a balance between various collection goals and collection costs. In addition, the software revitalizes the experience of our client’s customers such as banks, utility companies, insurers, telcos, e-commerce, and mobility companies.