DivideBuy provides interest-free credit solutions through a network of retail partners, allowing consumers to shop for high-end and specialist brands while spreading their payments over fixed monthly installments. This service addresses the challenge of high upfront costs, enabling customers to manage their budgets effectively without incurring interest charges.
Funding
Funding not disclosed
Founders
Product
Problem
Many consumers are unable to purchase goods and services from high-end or specialist retailers due to the high upfront costs, limiting their access to desired products and services. Traditional credit options often involve interest charges, making budgeting difficult and increasing the overall cost of purchases.
Solution
DivideBuy provides an interest-free credit solution, enabling consumers to spread the cost of purchases from participating retailers into fixed monthly installments. This allows customers to access higher-value items and manage their budgets more effectively without incurring interest charges. The application process is designed to be rapid, providing instant decisions and enabling customers to complete their purchases quickly. Retailers partnering with DivideBuy can attract new customers, increase sales, and improve conversion rates by offering flexible payment options.
Target Audience
The primary target audience includes consumers seeking to purchase goods and services from high-end and specialist retailers while managing their budgets through interest-free installment plans, as well as retailers looking to increase sales and attract new customers by offering flexible payment options.
Features
- Repayment plans ranging from 3 to 60 months, allowing consumers to choose a schedule that suits their budget
- Fixed monthly payments that remain consistent throughout the repayment term
- Rapid application process with instant credit decisions
- No early repayment charges, providing flexibility for consumers to pay off their balance sooner
- Integration with retail partners' websites, offering a seamless checkout experience
- Continuous Payment Authority (CPA) for automated monthly installment collection
- Eligibility checker/soft credit search options available on retail partner websites