Financial management app Fintonic is collaborating with Amazon to provide Spanish clients with the option to fund interest fee purchases at the e-commerce store.
Under the agreement, Fintonic's 500,000 Spanish users will be able to defer payments ranging between €200 and €1,000 for up to four months.
The credit request and management is drawn up automatically through the Fintonic app, available for iOS and Android, in less than three minutes. The user will be given a Gift Card that can be used for several purchases in Amazon.es until the balance runs out, for a maximum period of ten years.
To obtain financing, Fintonic analyses more than 160 variables to determine a user's 'FinScore' for approval.
Founder and CEO Lupina Iturriaga states, “It’s an exceptional collaboration, as it opens a new way of cooperating between the fintech sector and online distributors, settling new alternatives for users to access e-commerce in beneficial conditions.”
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