CLOSED LOOP COLLECT ON DELIVERY (C.O.D) PAYMENTS

摘要

A trusted closed loop payment system and method that reduces the liability o f carriers for cash on delivery ("COD") shipments. A third party payment syste m (26) is authorized by the buyer (14) to make payments to a shipper (12) on behalf of the buyer (14) upon receipt of goods by the buyer (14). Since the third party payment system (26) makes and guarantees payment, carrier liability is removed. Additional advantages include quiker payments and multiple payment options.