Porter Uses Cashfree Payments To Do Instant Driver-partners Payouts At The End Of Every Trip

About Porter

As a leader in the logistics market, Porter allows businesses to book vehicles on demand for their intra-city logistics needs. Businesses can use it to move inventory of perishable nature like agricultural goods, FMCG, electronic appliances, pharmacy and medical supplies, bulk couriers, and move business parcels from warehouses to store outlets. In the $40 billion intra-city logistics market, it leads. It has served over 70 lakh customers across 15 cities in the country through its network of 3 lakh+ delivery partners. 

Challenge 

11-days long driver payment cycle

Prior to this partnership, Porter used to follow a weekly payout cycle for its driver partners, wherein they used to manually upload a detailed payments sheet on the bank’s portal with partner drivers’ bank account details and the amount to be disbursed. For a driver, it could take upto 11 days to receive a payment from Porter. This is one of the reasons why partner drivers were showing resistance to receiving online orders.

Solution

Payment disbursal made faster

Porter wanted to simplify the payout process and make it as fast as possible. As a result, Porter opted for the Cashfree Payouts API Banking platform to automate the disbursal process. 

Once the order is completed, the customer makes the payment. Porter further calculates its commission and driver partners’ payment. The partner payment is then automatically credited to a wallet inside the Driver App at the end of each trip. The driver partner can choose to either disburse the money directly to their bank account anytime even on a bank holiday, or use it to avail rewards or recognition benefits on the app itself. Thus, the app has enabled the driver partners to accept orders, finish orders as well as accept payouts.

Higher Operational Efficiency

Porter saw a shift in partner drivers’ behaviour who earlier showed hesitancy towards wallet or online orders. After the implementation of Payouts, partner drivers started seeing online orders as equal to cash which led to a considerable jump in online order payments.

This has also promoted digital transactions in the delivery partners fraternity, realising this mode’s convenience and simplicity. Porter also uses the Cashfree Payments’ Verification Suite to verify the bank account details of the delivery partner during onboarding. This has led to faster KYC, ensuring payouts to the right beneficiary bank account.

Further, shifting to Payouts has helped Porter reduce stress on its operations and finance team by automating the disbursal process, leading to higher operational efficiency.

Why Payouts? 

Payouts is an API banking platform that helps businesses send money to any bank account, UPI ID, card or wallet. Use Payouts to pay vendors, do customer refunds, disburse loans, etc instantly 24×7, even on a bank holiday.

Innovative businesses like CRED use Payouts for various use cases like customer refunds, automated loan disbursals, vendor payments etc. 

You can also get creative and solve your business payouts challenges with our powerful Payouts APIs.