DivideBuy releases merchant guide as demand for interest-free credit rises

By Joy Dumasia

DivideBuy, the LendTech company, has announced the release of its new eBook, “How to attract customers with interest-free credit: A retailer’s guide to offering credit with confidence.” 

Interest-free credit has experienced a boom over the last 12 months, with research showing 11.5% of bridge millennials have used Buy Now Pay Later, with users regarding the solution as an effective means of controlling their finances while making the purchases desire. 

DivideBuy aims to make life more affordable by transforming the point-of-sale (POS) finance industry through innovation and technology. DivideBuy is releasing the guide to provide merchants with the resources they need to make an informed decision about the payment method. 

These include the benefits for retailers and consumers, what merchants can expect while implementing a solution, and data from its retailer partnerships. For example, when following the company’s best practice guidelines, merchants have seen a 43% increase in big-ticket item sales and a 34% increase in average basket value. 

Jo Balsamo, Chief Marketing Officer for DivideBuy, commented: “E-commerce sales have soared since the onset of the pandemic, and so has the demand for new and alternative methods of payment, such as interest-free credit. This research and insight comes at a pivotal time in the retailer landscape, with much of this information, including data taken from our recent consumer pulse survey, demonstrating that there is a bounty of opportunities, but not all retailers know how to harness them.”

In partnership with over 500 retailers, DivideBuy offers a fast 60-second application process and an immediate decision which means that customers can spread the cost of their purchases with no hidden charges.