Deko’s new partnership with personal finance lender Zip has accelerated the growth of its Pay in 4 product in the exciting buy now pay later (BNPL) space.
With 23.7m consumers in the UK either using or considering using BNPL products, according to Zip research, this is a growing market and one where Deko is keen to establish its Zip Pay in 4 product.
The agreement is also a further demonstration of Deko’s commitment to becoming a multi-product retail finance partner for merchants, providing appropriate and revenue-driving solutions for consumers no matter the basket size.
Merchants can, effectively, choose one or multiple retail finance products that best suits their market.
Zip’s latest research also showed that BNPL users are leveraging products frequently, with 40% paying with BNPL multiple times a month. Typically, they are spending between £20 and £100 per transaction.
Merchants can be approved for Zip Pay in 4 within 48 hours and the integration is fast, simple and will not cause any disruption to the consumer experience. From a consumer perspective, application requires eight questions and approval is instant.
Find out more about Zip Pay in 4 by clicking here or get in touch with the team to discuss how buy now pay later can drive up basket size, repeat sales and grow your customer base.