Divido launches embedded retail finance platform, ‘Divido Connect’

By Gloria Methri

Checkout finance provider, Divido, has announced the upgrade of its UK direct-to-merchant platform to give merchants easy access to retail finance across Europe. With ‘Divido Connect’ merchants can now uniquely offer retail finance from a network of lenders across the UK and Europe.

Previously available in the UK, and now in France, Belgium, Spain, Portugal, Italy, and Romania, Divido Connect makes it straightforward for merchants to offer their customers’ checkout finance for single payments and for European merchants to enter the UK.

This will give merchants access to a full range of finance options in each of these markets, including pay-in-three, 0% APR finance, and installment finance for up to 10 years with purchases up to £25,000, depending on the country.

The ready-to-use Divido Connect platform is powered by many trusted lenders. Novuna will offer UK retailers financing options and Oney will provide finance across Europe, with more tier-one lenders set to join the network in the next 12 months. Using one integration and one set of management tools saves costly engineering work.

CEO of Divido, Todd Latham said, “Checkout finance in all its forms has exploded in the last 18 months. Consumers are increasingly seeking out embedded finance offerings to better manage their finances and we expect demand to continue to grow. Having a checkout finance option that helps consumers pay in smaller repayments is going to have to be a first thought, not an afterthought, for merchants looking to convert sales. On the flip side, lenders have a huge opportunity to grow their market share by working with these merchants, but the two parties are rarely connected to offer the best solution.

He added, “The launch of Divido Connect will see merchants able to easily grow their checkout finance offerings into new markets and have full visibility into all their checkout finance payments in multiple markets, via one single integration.”