London, UK: PartPay has arrived in the UK to support the revolution in the way consumers make smaller online purchases.
PartPay leads the way in New Zealand helping retailers to dramatically grow their businesses while responding to the changing payment needs of their customers for smaller purchases.
PartPay’s innovative instalment finance solution enables retailers to expand their payment options for consumers making purchases between £50 and £500 in a fast and convenient platform for both online and in-store transactions. The platform has proven overwhelmingly popular with consumers in New Zealand where short term instalment finance is now ubiquitous and is set to take off in the UK in 2019.
The PartPay instalment finance solution has proven to deliver up to 60% increase in cart values, a reduction of 20% in cart abandonment, and increased revenues for hundreds of retailers throughout New Zealand. Consumers have benefitted from greater payment choice, whilst PartPay’s ethical approach to lending ensures that consumers are able to buy more of the things that they need and manage their spending more effectively.
PartPay is easy to integrate with most leading eCommerce and POS platforms, including Magento, WooCommerce, PrestaShop, OpenCart and Shopify, among others. After a seamless sign up process, eligible shoppers pay just 25% for goods to PartPay, with the remaining balance paid by three fortnightly instalments – no interest and no fees, it’s that simple.
The retailer ships the goods in the usual way and is paid the full amount, less PartPay’s fees, the very next business day. PartPay assumes all credit risk for the remaining instalments.
“PartPay provides consumers with an interest free way to make unexpected purchases or spread the cost of their everyday spending, much cheaper than using Credit Cards or Overdrafts. Our ethical approach to lending ensures that people can buy the things that they need, without being charged eye watering interest rates or significant late fees.” – Peter Jasko, UK CEO, PartPay
Consumers have increasingly grown wary of using credit cards and traditional finance options to fund their smaller purchases due to their complexity and higher fees. Responding to these changes, PartPay enables retailers to offer consumers an interest free way to spread the cost of unplanned purchases or spend a little more on a special treat.
Whether online or in-store, the customer sign-up process is simple, fast and transparent using PartPay’s market leading ID verification and real-time credit approval process. Coupled with an ethical lending ethos, PartPay offers consumers a leap forward in managing their finances through instalment payments.