Checkout finance provider, Divido, has announced the upgrade of its UK direct-to-merchant platform to now give merchants easy access to retail finance across Europe.
With ‘Divido Connect’ merchants can now uniquely offer retail finance from a network of reputable lenders across the UK and Europe.
Previously available in the UK, and now in France, Belgium, Spain, Portugal, Italy and Romania, Divido Connect makes it straightforward for merchants to offer their customers’ checkout finance for single payments and for European merchants to enter the UK. This will give merchants access to a full range of finance options in each of these markets, including pay-in-three, 0% APR finance and instalment finance for up to 10 years with purchases up to £25,000, depending on the country.
The ready-to-use Divido Connect platform is powered by trusted lenders. Novuna will offer UK retailers financing options and Oney will provide finance across Europe, with more tier one lenders set to join the network in the next 12 months. Using one integration and one set of management tools saves costly engineering work.
With Divido Connect, merchants can:
• Enable borderless finance - Access a reliable and trusted lender network in the UK and Europe to activate finance in additional markets in approximately four weeks
• Boost efficiency - Manage multi-country finance with a single-serve platform, saving time, costs and resources to build your own bespoke solution
• Gain greater control - Manage the customer experience with a solution that will cement brand recognition and build customer loyalty
• Increase their visibility - Have a central view of all finance payments and status across the UK and Europe
Divido Connect is the first offering in Divido’s expansion of its established checkout finance platform to move towards creating a whole-checkout retail finance ecosystem. CEO of Divido, Todd Latham explains, “Checkout finance in all its forms has exploded in the last 18 months. Consumers are increasingly seeking out embedded finance offerings to better manage their finances and we expect demand to continue to grow. Having a checkout finance option that helps consumers pay in smaller repayments is going to have to be a first thought, not an afterthought, for merchants looking to convert sales. On the flip side, lenders have a huge opportunity to grow their market share by working with these merchants, but the two parties are rarely connecting to offer the best solution.
“That’s where our network can help. We already work with lenders and merchants to offer a win-win solution to all stakeholders, as well as the end consumer. Lenders get access to a larger audience, merchants can de-risk their investment in checkout finance by adding or moving to new lenders as needed and consumers can have more control over their payments. The launch of Divido Connect expands on this, and will see merchants able to easily grow their checkout finance offerings into new markets and have full visibility into all their checkout finance payments in multiple markets, via one single integration.”