DivideBuy and Acquired.com to augment checkout for merchants

Through this partnership, DivideBuy’s merchants will be able to leverage smart automated tools designed to eliminate the rate of failed transactions, boost approval rates, and offer smoother payment experiences for customers.

Making checkout easier

The collaboration between DivideBuy and Acquired.com promises to accelerate the uptake of POS finance among customers of DivideBuy’s merchants by reducing involuntary churn, slashing the number of declined transactions, and allowing greater data insights through enhanced reporting and analysis tools.

DivideBuy will leverage Acquired.com’s acquiring gateway and automated tools to optimise payments, routing transactions through different payment rails and acquirers to increase acceptance rates for merchants.

A key component is the Account Updater tool, which will enable DivideBuy’s merchants to avoid declined payments based on out-of-date card and account details, which reduces cart abandonment rates and gives a much better experience to customers. Account Updater allows businesses to take recurring payments and avoid complications caused by expired cards or updated account details, by automatically updating shoppers’ payment information whenever it changes, including account or card number, name, providers, and card expiration dates.

Customers pay with their preferred option

Another game-changing benefit is that DivideBuy’s merchants can now send customers secure payment links (Pay-By-Link) via email or text, enabling them to choose another payment method of their choice to complete the transaction. When integrated with DivideBuy’s interest free credit instalment solution, this means merchants can reduce the number of failed transactions at checkout, boost conversion rates to drive more sales, and reduce the time it would take to manually chase failed payments with customers.

With DivideBuy occupying a unique space in the POS finance market by being both a tech solution provider and lender, the partnership with Acquired.com will ensure DivideBuy’s SaaS technology platform generates even more value for merchants.

Usage of POS finance and interest free credit is surging worldwide, with one of the latest researches cited by DivideBuy suggesting an expected 157% growth in the number of users until 2027, rising from 360 million in 2022 to 900 million by 2027, DivideBuy’s responsible lending-based POS finance solution is expected to become even more commonplace across a growing range of merchant sectors.