PHILOSHOPIC has developed a smart solution automating pre-payments between retailers and suppliers.The solution enables retailers to deposit money at their own premises and obtain credit in real-time towards selling digital products. The supplier/distributor can collect the cash upon exceeding certain level. This enables optimum cash flow and no banking fees for the retailer,while minimising bad debt risks as well as cash-collection costs for the supplier optimising distribution and improving the bottom line. Further more, the supplier can increase sales significantly as they can reach to more retailers who cannot afford bank guarantees or one-time large pre-payments to obtain a credit limit.
The solution is powered by our cloud based SMASH digital wallet framework and seamlessly integrated with PREPAYXL digital products distribution framework. At store level, there is application software running on a cash accepting terminal designed and manufactured by PHILOSHOPIC. The supplier (as the owner and user of the solution) may also enjoy complementary deployment services as well as remote fraud attempt investigation services towards peace of mind.
The solution is already deployed in more than 10 stores as a pilot, with additional 50 scheduled in the next 5 months with a plan to exceed 100 by the end of 2016.