Following the enormous success of its deferred online payment scheme, Spotii, the innovative payment technology provider, is now the first Shop Now Pay Later in the region to bring the same deferred payment scheme offline and in the store exclusive to Spotii merchants.
Spotii – which launched in April 2020 - allows consumers to split purchase costs over four payments – with a 25% down payment at checkout, then an additional three payments.
The pandemic-beating payment plan is only available at participating merchants, but Spotii is seeing a flurry of merchants keen to generate new sales.
With absolutely no hidden costs, fees or charges for the customer, Spotii’s first-to-market, industry-disrupting payment mechanism will help consumers make purchases during the tough post-pandemic period, wherever they shop, whether at an online retailer or in a physical store.
Here’s how it works: You visit one of your favourite stores and if they’re a Spotii merchant, you can use Spotii’s easy payment terms for your purchase. You pay 25% of the purchase costs and take your goods.
Then you simply make another 25% payment either every other week or every month, with no hidden costs, fees, or charges. If your favourite store isn’t on Spotii you can ask them to get in touch with Spotii and join its growing network.
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Flexibility and consumer convenience is at the heart of Spotii’s offering, along with giving merchants a convenient way to offer more payment options to customers.
CEO Anuscha Iqbal says: “We launched our services online, but we are acutely aware that while online purchases have doubled in the region during the pandemic, real-world shopping is a huge part of UAE culture, and we want to ensure we help people out everywhere.
"We can now help merchants deliver state of the art payment solutions to customers both on- and offline.”
“Many haven’t got the time, or resources required to quickly develop an online presence. Our ‘In store’ offering is a comfortable, convenient way for merchants to offer innovative payment to customers, and a bridge between bricks and mortar and digital,” explains Iqbal.
Research shows deferred payment options increase buyer’s basket size, boost conversion rates and decrease refunds - reducing the need for merchant discounting and increasing customer loyalty.
Splitting payments is not a new concept, but Spotii is proudly the region’s first payment-splitting offering which does not charge consumers to use its service – and never will.
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