In order to reduce the frequency of delivery scams, Borzo (formerly WeFast), a multinational on-demand delivery service provider, announced the launch of a new anti-fraud function in its delivery app in India. Based on the findings of the test phase, the ‘Trust Score’ courier scoring system, a new anti-fraud tool, is anticipated to reduce fraud deliveries by 85% in India.
The function is being introduced in 22 Indian cities, and after successful pilot tests in other areas, it will be made available in 7 nations. The function aims to lessen fraud brought on by the “Cash on Delivery” (COD) option.
All of Borzo’s courier partners are permitted to make COD deliveries. In certain cases, couriers take COD orders, get cash payments from clients, and then neglect to send the money back to the business.
However, when these delivery partners fail to deposit the monies collected, it leaves the corporation with unpaid COD bills and is regarded as a fraud. In such cases, Borzo protects sellers from suffering losses by putting the money into their accounts regardless of the Delivery staff’s handling of the cash.
The “Trust Score” is a metric that is calculated by Borzo’s anti-fraud system for each delivery partner. This score is calculated by gathering and analysing data based on a set of criteria.
Once this ‘Trust Score’ has been determined for each partner, it has an impact on how new orders are distributed. Delivery Low-scoring partners don’t get high-value things to deliver, and in certain situations, they aren’t even allowed to.
High Trust Score delivery partners are given High Value orders and High Value products by the algorithm. With the addition of the Trust score, deliveries at Borzo will be even more dependable.
Frauds were cut by 85% in 3 months during the test phase in India. Therefore, it was decided to introduce the function all over India. This model was developed by Borzo by simulating the computations of a courier partner’s trust score based on numerous characteristics, such as metrics like the number of orders completed, cash transactions that were successful, the delivery of high-value items, the delivery of orders that were covered by insurance, customer reviews, etc.