Shopify merchants across Europe can now increase sales by allowing their customers to spread the cost of any purchase thanks to a new payment solution from Divido.
What is Divido?
Divido is a “Finance as a Service” provider – a platform for merchants, lenders and intermediaries that want to offer instant, point of sale finance that works in-store, online and over the phone.
By working with Shopify, the leading commerce platform for small and medium-sized merchants, Divido is changing the way customers buy from thousands of retailers.
You can request a live demo of Divido’s integration online.
How does it work?
Divido’s technology seamlessly integrates with the Shopify platform, allowing customers to buy anything via instalments, in minutes, completely paperless. Meanwhile, the merchants get paid in full, right away – it’s a win-win for everyone.
Products include 0% Finance, Deferred Payment and Low Cost Credit, with merchants deciding which options they’d like to offer.
What does this mean for merchants?
Because Divido lets customers spread the cost of a purchase, merchants benefit from reduced friction during the checkout process, improved conversion rates and increased average basket sizes.
The new integration is a significant development for customers too, who now have the flexibility to get the product or service they want, whilst spreading the cost into monthly instalments up to 5 years, or deferring payment entirely up to 12 months after delivery.
Divido is connected with multiple lenders who effectively compete to deliver better rates for end customers, meaning it offers the very best borrowing rates. And with just one simple integration, Divido also grants access to multiple countries and currencies. These unique capabilities set Divido apart from other POS instant finance providers.
General Manager of Payments at Shopify, Paco Suro, said: “We are excited to work with Divido, a leading UK consumer finance company. An integration like this provides enormous value to our merchants and their end consumers.”
Co-Founder and CEO of Divido, Christer Holloman added: “Every year consumers buy things on instalments for $500 billion. Divido’s technology is improving that experience for everyone by offering an intuitive, paperless financing option alongside traditional credit and debit card payments. By working with Shopify we expand our reach and help thousands of retailers offer more choice and flexibility to their customers.”