The initiative also aims to disrupt the old guard of buy-now-pay-later. The funding comes from a group of private investors, including the likes of Accor Asia Pacific and Telstra group. Limepay was founded in 2017, and it allows merchants to integrate an online payments platform with their own branding, as well as to add their own buy-now-pay-later functionality if they wish.
SmartCompany reports that Limepay actually closed the funding round before Christmas 2019, long before the COVID-19 pandemic hit full swing in Australia. But, the changing economic landscape actually provides an opportunity for the startup, as merchants would talk about how important their relationships with customers were, and they were onboarding third parties to manage their checkout processes.
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