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entrants offering POS finance solutions at the checkout. DivideBuy’s solution can be easily
integrated at retailer checkouts through an ecommerce plugin, and works with shopping cart functionalities such as Shopify, Magento, WooCommerce and Craſt Commerce. Our technology platform offers a fast 60-second application process and an immediate credit approval decision based on each customer’s individual circumstances.
How many retailers does the company currently serve and how does this impact the company’s bottom line? Currently, DivideBuy has over 500,000 account-holders, and over 500 retailers are offering DivideBuy as a payment option at their online checkouts alongside the likes of PayPal and Amazon Pay. We’re adding more retailers every month across more industry sectors, and this trend is only set to increase over 2022 and beyond.
Do buy now pay later transactions really create easier and more accessible payment options for customers or does it encourage debt? In short, with responsible lending based on responsible spending, BNPL does create an easier way to transact. When first-time customers use DivideBuy, all they need to
complete is a short sign-up form, which asks for basic information. DivideBuy’s automated credit check system uses this information to present the consumer with personalised payment deals, and soſt search credit checks that offer no risk to the customer’s credit score. All the information on payment installment times and figures is customer-facing, with no hidden fees, so that the consumer knows exactly what they are paying.
“To be clear, we don’t encourage consumers to spend more. Our solution and its affordability checks and flexibility means that consumers can source products with affordable monthly payments, with no hidden fees or complex sign-up processes.”
Lenders should be checking credit
worthiness before approving a request for credit and clearly explaining their terms and conditions of sale to ensure that the consumer does not get into debt.
How is the company revolutionising the POS finance sector? Traditional lending solutions have oſten come with high interest charges and hidden fees, and work in the interest of the lender but not the customer. Convoluted lending processes have deterred consumers from signing up, and retailers lose out on sales due to the lack of an affordable and flexible payment option at the checkout.
Our ethos is all about bringing customer-friendly lending
technology that offers installment-based payments into the mainstream. DivideBuy occupies a versitile position in the BNPL sector because we’re both the lender and tech platform provider. Our platform is helping retailers onboard new customers in-store and online effortlessly, with real-time credit checks and approvals. Our success over the last few years shows that we’re generating increased sales and higher basket values for retailers, and extending more affordable and flexible payment solutions for consumers. Te flexibility of DivideBuy’s technology ensures each customer
is treated as an individual, with no long forms for customers to fill out or complicated small print. Retailers can onboard customers instantly, providing a much more intuitive customer experience with tailored payment plans based on the customer’s profile. Our platform also allows the generation of marketing insights through first-party customer data analysis. Tis helps retailers to boost sales, improve cash flow, and support
responsible lending for consumers, with full visibility over the entire lending process.
26 | December/January 2022
www.pcr-online.biz
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