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Paynamics partners BillEase to introduce BNPL solution

Tuesday 6 July 2021 12:25 CET | News

Paynamics and FDFC, the fintech behind Buy Now, Pay Later (BNPL) app BillEase, have partnered to offer card-free installment solutions for online retailers.

Paynamics is an online payment service that allows small and large enterprises to accept online payments via a single API. Paynamics merchants that activate BillEase can allow customers to pay for their purchases in easy installments and pay either bi-weekly or monthly over three, six, nine, or 12 months with monthly interest rates between 0% to 3.49%. Merchants can also offer a true 0% annual percentage rate (0% APR) by default or limited time.

The joint pay-over-time solution will allow any online retailer to offer more flexible payment options at check-out with terms and rates they can customise to drive conversions.

Shoppers only need to provide a valid ID at the check-out to sign up and get approved in five minutes. Installments are shown in actual amounts instead of percentages, so customers know exactly what they pay with no hidden fees and no surprises. The BNPL option is available for purchases ranging from USD 10 and up with a 15-day or up to 12 months payment plan.

Launched in 2017, BillEase offers merchants a BNPL platform to help them drive key sales metrics such as conversion rates and average basket values by offering customers a transparent, easy-to-understand installment payment plan with 0% APR or small monthly interest rates. The app is operated by First Digital Finance Corporation (FDFC), a homegrown financial technology company.


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Keywords: partnership, product launch, BNPL
Categories: Payments & Commerce
Companies:
Countries: Philippines
This article is part of category

Payments & Commerce