Abstract: A system and computer implemented method for facilitating collect on delivery (COD) transactions may be implemented using specially programmed, general purpose computers connected to a data network. The process may be implemented using an interface provided by the COD provider and accessible to a vendor and customer. A COD payment from the customer it transferred to the COD provider. The COD provider transfers funds to the vendor upon transfer of the payment, then holds the payment for a predetermined amount of time before processing the COD payment. If the customer desires additional time before the payment is processed, they may access the COD provider via an interface and electronically change the COD payment processing date.