/Payments

Fintech News for Payments professionals

SymphoPay and eMAG integrate interest-free installments programme with payment terminals

Source: SymphoPay

eMAG integrates SymphoPay's payment platform at all the showroom's Priority Pay machines.

Thus, eMAG customers can pay with an interest-free card directly at the pay-per-view machines inside the showroom without the need to be assisted by shop consultants. In the initial phase, the service is available to Bank Transilvania and Alpha Bank customers, with more partner banks to follow up and connect to the platform soon.

The innovative component is connecting banks to a single payment terminal, both for card transactions and interest-free installments, thus providing an integrated payment management solution connected with the eMAG platform.

"Providing a simplified payment experience is a priority for us. This is why we introduced our Priority Pay scanning and payment machines into our stores, integrating the solution developed by SymphoPay, which allows eMAG customers to pay their products in installments without interest rate. The adoption rate exceeded our initial estimates, which motivates us to continue the process of innovation and optimization of the eMAG experience, "said Mircea Balica, Payments Platform Manager eMAG.

"Our proposal to banks and traders is to transform payments into opportunities to increase profitability by improving customer relationships and optimizing costs. The fact that 50% of customers choose to use this payment channel repeatedly demonstrates the potential of integrating payments into a fully-controlled transaction by the trader, "said Daniel Nicolescu, CEO of SymphoPay.
For customers who choose to use the Priority Pay machines in the eMAG stores, the total payout and checkout time decreased to an average of 20 seconds. Thus, customers get the goods they ordered faster, without waiting for the cashier. 

Contributed | what does this mean?
This content is contributed or sourced from third parties but has been subject to Finextra editorial review.

Comments: (0)

Featured job
All Jobs »
London, UK

Sales Director, Private Equity Solutions (London, UK)

Competitive base, double ote, benefits, stock options

22 Jul