Quadpay acquires AI-powered visual fashion search engine Urge

Friday 13 November 2020 14:40 CET | News

Quadpay has acquired technology company Urge Holdings, known for its fashion search engine for a purchase price of approximately USD 6.1 million. 

According to the press release, Buy Now, Pay Later company Quadpay will integrate Urge’s technology onto its interest-free instalment payment platform, giving Quadpay’s millions of customers the ability to shop apparel by taking a photo or screenshot and then automatically finding retailers for the purchase as well as price comparisons. 

In addition, Quadpay’s network of thousands of merchant partners will gain the ability to offer targeted and more personalised promotions to consumers as a means of acquiring new business and driving increased sales. Besides, thanks to the initiative, Quadpay’s digital-first instalment payment platform will be combined with machine learning and AI technology, resulting in an improved shopping experience for consumers and merchants. 

Furthermore, Urge Holdings co-founders will join Quadpay where they will work on product integrations and scaling their technology. Quadpay expects the new technology to be fully integrated later this year and will expand beyond the fashion industry.

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Keywords: Quadpay, acquisition, Urge Holdings Buy Now, pay later, The Urge, Shnap, instalment payments, retailers, merchents, shopping experience
Categories: Payments & Commerce
Countries: World
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