Saudi Arabia-based prominent eCommerce platform, Salla, and UAE’s Spotii have partnered to provide over 10,000 merchants across the Kingdom with direct access to the benefits and functionality of buy now, pay later (BNPL).
As a result, millions of consumers across the region will benefit from a more flexible installment payment option that comes at no extra cost or hidden fees.
Spotii, which began operations in the UAE last year, has offered a new way to pay for items over time, both online and in-store, with no interest charges.
It works like this, customers choose to pay with Spotii using any debit or credit card (including MADA) and have their order split into four equal, automatic payments in the future. Approval is immediate and there is no interest or added fees to use the service.
In line with Saudi Arabia’s Vision 2030, Spotii is meant to accelerate the development of the Kingdom’s eCommerce and digital payment ecosystem, which is expected to account for 80 percent of the retail industry by 2030.
Through Spotii, Salla merchants are well-positioned to take advantage of this digital trend and enjoy an enhanced ability to boost their market presence.
While it is a new concept in the region, business owners in the GCC who have chosen to offer BNPL to their customers have already noticed several real benefits, including a full upfront payment for their sales, higher basket sizes, improved conversion rates, and fewer refunds.
Salla stated that “we are constantly looking to provide value-added services for our rapidly growing merchant base and we saw synergies with Spotii. Now, there are more innovative payment options available for Salla merchants to serve their customers. We greatly look forward to this partnership as it benefits the eCommerce ecosystem in Saudi Arabia for now, and to the other countries in near future.”
Mr. Ziyaad Ahmed, Co-founder and COO Spotii pointed out that “Spotii’s mission is to empower customers and enable them to enjoy their shopping experience without worrying about excessive costs and hidden fees. At the same time, our platform supports customer acquisition and revenue growth for business owners it’s a win-win.”
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